Major retail park in west of Scotland sold in eight-figure deal


The site has been bought by London-based Corum Asset Management, which was represented by property firm Knight Frank, while Cushman & Wakefield acted on behalf of the vendor, Aberdeen Standard Investments.
The £12.25m deal represents a healthy net initial yield of 10.49 per cent.
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Hide AdThe 59,404 square foot site is part of a substantial retail warehouse cluster in East Kilbride, adjacent to Kingsgate Retail Park.
Rhu Wishart, a surveyor based at Knight Frank’s Edinburgh operation, said: “The deal for East Kilbride Retail Park shows there is still an appetite for well-located retail warehouse assets, despite the challenges posed by online shopping.
“It also underlines investors’ desire for long-term income supported by strong covenants while macro-economic conditions remain uncertain.”