Thursday, October 13, 2023
Lodge Road Partnership in first purchase
Lodge Road Partnership have successfully secured their first acquisition in Scotland with an off-market purchase of a standalone retail warehouse investment in Ayr.
The property located in Beresford Terrace within the town center is a new unit of 32,240 sq ft let to Matalan for a further 19 years at a rent of £437,500 pa. The passing rent reflects £13.50 psf.
The purchaser paid £7.65m for the investment reflecting a net initial yield of 5.40%.
Andrew Kubski, Investment Partner at Drivers Jonas Scotland, said: "We are delighted to have sourced and delivered this investment for Lodge Road, building on the portfolio they have assembled in conjunction with our National Investment Practice."
The property located in Beresford Terrace within the town center is a new unit of 32,240 sq ft let to Matalan for a further 19 years at a rent of £437,500 pa. The passing rent reflects £13.50 psf.
The purchaser paid £7.65m for the investment reflecting a net initial yield of 5.40%.
Andrew Kubski, Investment Partner at Drivers Jonas Scotland, said: "We are delighted to have sourced and delivered this investment for Lodge Road, building on the portfolio they have assembled in conjunction with our National Investment Practice."
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