RYDEN has successfully completed the sale of two prime industrial investments currently let to TESLA and UPS in Edinburgh, both transactions achieving ahead of their asking price.
23 Cliftonhall Road, Newbridge has been sold to Ribston for approximately £3.125m. The property comprises a standalone former distribution unit and is now operating as a TESLA service centre, store, and supercharger destination.
Ryden first acquired the asset for the client, a private investor, who now has sold it after securing a rental uplift advised by Ryden’s Rates, Rent and Valuation team.
Additionally, following instructions received from Murray Capital, Ryden has completed the sale of 28 South Gyle Crescent in Edinburgh, occupied by UPS, to a private investor for c. £2.55m.
The letting to UPS was also secured by Ryden’s Industrial Agency team in Edinburgh, providing the purchaser with c. six years term of certain income.
Nick Armstrong, Investment Partner at Ryden, commented:
“We are extremely pleased to have completed these two transactions that reflect our ability to secure compelling investment opportunities and achieve the best strategic solutions for our clients. Moreover, these sales prove that steady income and increasing rents keep generating investor interest in the market.”
“This success also results from excellent teamwork by Ryden’s Investment, Agency and Rates, Rent and Valuation Groups, demonstrating our capacity to work together to offer the best advice to our clients.”