Europa Capitaland Ediston Real Estate have acquired Auldhouse Retail Park, Glasgow from Aviva Investors. Located close to the city centre, the property provides 116,656 ft² 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. The purchase price was undisclosed.
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”.
