Lismore Real Estate Advisors has advised a US investor on the purchase of two retail parks in Paisley and Livingston. It is the purchasers first acquisitions in Scotland.
Renfrew Retail Park, Paisley is a recently developed retail warehouse and food store totalling 60,000 sq.ft. The units are let to M&S (Simply Food) and The Range with a WAULT of 17 years to expiry and 15 years to break.
Livingston Retail Park was developed in 2017 and comprises two retail warehousing units totalling 43,000 sq.ft. The units are let to B&M and Dunelm, let off £12.00 sq.ft, with a WAULT of 11 years.
Both parks have Open A1 consent.
The retail parks were purchased for a combined price of circa £21 million which reflected a NIY of close to 6.10%.