REAL estate advisor CBRE has advised St John’s High Income Property Fund on the acquisition of a distribution warehouse at Eurocentral.
30 Coddington Crescent offers a detached unit extending 72,422 sq ft with a 6,869 sq ft canopy and 1.6-acre secure concrete yard.
Let to SIG Trading Limited, a distributor of specialist building materials, until 2033, the industrial site is the tenant’s main distribution hub and trade counter for Scotland.
Martyn Brown, capital markets director at CBRE, said, “We are pleased to have advised St John’s High Income Property Fund on the acquisition of 30 Coddington Crescent. The asset comprises a secure and reversionary income profile, underpinned by very strong real estate fundamentals.
“Eurocentral continues to be Scotland’s premier industrial and logistics hub, with unrivalled transport links to major cities and distribution points. With no vacant units on the park and high occupier demand to locate here, the rental growth prospects of this investment are undoubted.”
Richard Bryan, representing St John’s High Income Property Fund, added, “We are delighted to increase our ownership on Scotland’s prime distribution park. The strong fundamentals of this investment align perfectly with the fund’s strategy to acquire high quality assets underpinned by strong income profiles.”
