Commercial Property News

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Friday, November 17, 2023

GVA Grimley brokers deal for long-term solution

GVA Grimley has brokered a deal which sees Dunedin Canmore Housing Association leasing a 13,550 sq ft industrial unit at 34 Dryden Road, Bilston Glen, Loanhead. The unit will be occupied by Dunedin's property maintenance division to service Edinburgh and the surrounding areas. The initial rental equates to approximately 5.15 per sq ft.

Commenting on the deal, Malcolm Pearson, associate at GVA Grimley, said: ?Our remit was to purchase an industrial unit within close distance of the A720 ? not an easy task without an open chequebook.

"The property at Bilston Glen met the client's requirements but was only available to lease. Fortunately however, we managed to negotiate a compromise with the owner and Dunedin Canmore now has an option to purchase within the initial lease term."

Danny Grant, property operations manager for Dunedin Canmore added: "To allow our various trades easy access to the east, south and west of Edinburgh, we really needed to be located centrally on the Edinburgh South Orbital. However, nothing in the area could be acquired at a reasonable price. This property, with the option to purchase, is the ideal solution."

D M Hall acted for the landlord.