Commercial Property News

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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."