Quartermile Retail Investment Sold
6 May 2008
In one of the most significant retail property investment deals in Scotland this year, Ryden, for a private investor, has acquired the new retail parade at Quartermile in Edinburgh. A price in excess of £3 million was paid, representing a net initial yield of c. 5.3%.
The newly constructed development has been let to Sainsbury's, Starbucks and Swedish bakery Peter's Yard.
John Morton of Ryden said: "Quartermile has proved popular and provides an excellent tenant mix for the neighbouring residential and office schemes. The successful acquisition is a result of spotting an off-market opportunity and represents a strong deal for our client in a challenging market."
Quartermile is one of Edinburgh's foremost regeneration programmes.
CBRE represented the vendor, Gladedale.
