Lothian Pension Fund concludes capital retail park deal

Lothian Pension Fund has acquired Corstorphine Retail Park from Hunter Real Estate Investment Management for £16.265 million.

The park has recently undergone extensive redevelopment with new lettings secured to Lidl and The Gym Group, with further lease re-gears to McDonalds, Pets at Home and Cancer Research giving an average lease length in excess of 18 years.

Lothian Pension Fund was advised by Lismore Real Estate Advisors, Hunter was advised by Sheridan Keane.

Commenting on the retail warehousing sector, Chris Macfarlane, director of Lismore said:

“Towards the end of 2022 and into this year we have seen retail warehousing yields soften, but those parks anchored by food stores and also with an element of drive-thru, located in strong urban catchments, remain robust and still offer good value.”