Friday, October 21, 2023
Kilpatrick Property Group acquires 18 retail units for £2m in Alloa
Kilpatrick Property Group Ltd has acquired 18 town centre retail units in Alloa, Clackmananshire from Waterfoot Properties for £1.98m. The units, located at Maple Court at the junction of Drysdale Street and Shillinghill, currently produce annual rents of £120,500 with the purchase price reflecting an initial yield of 5.8%.
The development, which extends to a total of 21,000 sq. ft of net retail accommodation, includes tenants such as the Post Office, Ladbrokes, Klick Munro, Iceland Frozen Foods, British Red Cross and a number of local traders.
Maurice Glen, Managing Director, Kilpatrick Property Group, says: "This acquisition is in line with our strategy of acquiring property assets within the retail sector in prime or emerging locations, which offer value enhancement potential over the short to medium term."
The vendors Waterfoot Properties were advised by Alan Watt Consulting
The development, which extends to a total of 21,000 sq. ft of net retail accommodation, includes tenants such as the Post Office, Ladbrokes, Klick Munro, Iceland Frozen Foods, British Red Cross and a number of local traders.
Maurice Glen, Managing Director, Kilpatrick Property Group, says: "This acquisition is in line with our strategy of acquiring property assets within the retail sector in prime or emerging locations, which offer value enhancement potential over the short to medium term."
The vendors Waterfoot Properties were advised by Alan Watt Consulting
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