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Monday, July 03, 2023

Kenmore sale at Whistleberry Retail Park for Adam & Co Property Partnership

Kenmore, acting on behalf of the Adam and Company Property Partnership and represented by King Sturge, has sold two retail units at Whistleberry Retail Park in Blantyre for 5.43 million reflecting a net initial yield of 5.5%. The investment has been purchased by Edgemore Ltd.

Unit 1 extends to 30,340 ft2 plus 167 car parking spaces and is currently let to Focus (DIY) Ltd on a 25-year lease which runs until 2019. The smaller Unit 2 extends to 5,500 ft2 and 37 car parking spaces and is occupied by Farmfoods Ltd on a 15-year lease. The rental income on the two units is 315,900 per annum.

Gregor Martin, Director of Kenmore said: "This was a typical Kenmore deal, where we bought the site with the Focus unit and subsequently added value by developing the Farmfoods unit and selling on."

Kenmore Investments was represented by Chris Macfarlane of King Sturge, whilst Edgemore Ltd was represented by Culverwell.