Lismore Real Estate Advisors advised Swiss Life on the sale of a prime single‑let distribution unit located in Scotland’s premier logistics and last‑mile location.
The property comprises a modern detached warehouse of 80,224 sq ft on a 5.94‑acre site, fully let to SP Distribution Plc (t/a ScottishPower) on FRI terms. With a 2026 upwards‑only open market rent review and a lease expiry in September 2031, the asset offers near‑immediate reversion, with a passing rent of £6.75 per sq ft compared to an estimated MRV of £10.50 per sq ft.
The property was acquired by Cable Properties, following a competitive closing date, for £10.85m reflecting a net initial yield of 4.67%.