Europa Capital and Ediston Real Estate have acquired Auldhouse Retail Park, Glasgow from Aviva Investors. Located close to the city centre, the property provides 116,656 sq. feet of retail warehouse accommodation across seven units. This Open Class 1 retail park is fully let to national retailers, including Homebase, Aldi, Pets at Home and Home Bargains.
James Fortescue, Partner at Europa Capital commented: “We are delighted to have invested in another income producing retail investment with our local partner. The recent lettings to Aldi and Pets at Home demonstrate the strength of retail occupier demand in this part of the UK. We look forward to further improving the park through active asset management and targeted capital expenditure.”
Alastair Dickie, of Ediston Real Estate, said: “This is an excellent off market transaction where we worked with the vendor to secure a successful conclusion for both parties. It is a really well located retail park with immediate opportunities to improve and enhance through extensive refurbishment, redevelopment and intensive asset management”.
For further information, please contact:
Gordon Simpson, Finsbury: +44 20 7251 3801
About Europa Capital
Europa Capital is a real estate fund manager focused on European markets. We add value utilising a variety of strategies implemented through active asset management, change of use or refurbishment and development in all property classes across Europe.
Since 1995, Europa Capital has collectively raised nine real estate funds and committed to over 105 transactions totalling more than €9.5 billion across 19 European countries.
We are a member of Rockefeller Group International (RGI), a subsidiary of Mitsubishi Estate Co., Ltd. RGI is a strategic investor alongside management in Europa Capital’s investment management business.
Ediston Real Estate is a UK property company based in Edinburgh with assets under management in excess of £650 million.
The company focuses on both investment and development, and has a track record of buying sub-standard, well located properties and transforming them into prime institutional quality investments.
Ediston has been actively investing throughout the UK since 2009/2010, through the Ediston Opportunity Fund and with newly raised funds through the Ediston UK Real Estate Trust, launched in 2012.
Further information can be found at www.ediston.com.