Town Centre Securities has completed the sale of two commercial properties in central Edinburgh for a total of £2m – higher than the valuations carried out after the EU referendum – and is selling three more assets in Scotland.
The Leeds-based company has sold 63-65 Shandwick Place, let to Army Careers, to a property investment fund based in Newcastle and 89 Shandwick Place, let to Social Bite, to a private investor in County Down Ireland, with yields of 7% and 7.5% above valuation.
Sheridan Property and CBRE advised on the sales.
The company has also placed two more blocks on the market in Shandwick Place, 1-13 and 35-47, which are being marketed for £6.3m and £2.2m respectively.
The two blocks are home to ASK Italian, Pret A Manger, Starbucks, Sainsbury’s and Optical Express.
Town Centre Securities is also selling Empire House in Sauchiehall Street, Glasgow for more than £17m.
Tenants include Starbucks, Body Shop, Bella Italia, Bank of Scotland and CoStar UK. Total rent roll on the building £1.26m.
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