Straiton retail park sold in £24.5m deal

AN EDINBURGH retail park that is home to Carphone Warehouse, Laura Ashely and TK Maxx has changed hands in a £24.5 million investment deal.

Straiton Retail Park, which is located just to the south of the city’s bypass, forms part of a key out-of-town shopping location. Other big-name retailers nearby include Ikea, Next and Sainsbury’s.

The Straiton site – comprising a row of six warehouses and two smaller “pod” units – has been bought by St James’s Place, the wealth management business majority owned by Lloyds Banking Group. It had been owned by BA Pension Fund.

Orchard Street Investment Management, which acted on behalf of St James’s Place, said the deal reflected a yield of just below 6.2 per cent. It added: “This acquisition offers an excellent investment opportunity.”