Ediston Property has announced the acquisition of a B&Q Extra Retail Warehouse in Coatbridge, Scotland for £16.8m. The acquisition price is equivalent to a net initial yield of 7.46%.
The property extends to 103,000 sq. ft., plus a garden centre and builders’ yard, with parking for 600 cars, on a site of 4.27 acres. It is let to B&Q plc until December 2022 with a rent review in 2017, and Ediston say this offers a solid income stream for the Company, which can be further improved through asset management and development.
EPIC : Ediston buys B&Q Extra Retail Warehouse