CB Richard Ellis Investors has bought Aldi’s Edinburgh store at 100 Gorgie Park Road for £3.8m.
The purchase – which reflects a yield of 5.5% – was made on behalf of an in-house client.
The 1.51-acre site and accompanying 15,744 sq ft store is held on a 25 year FRI lease at a current passing rent of £221,396 pa – or £14.06 per sq ft.
Dermit Smith, director of national investment with Colliers International, who sold the building on behalf of Forrest Partnership, said: “The property fundamentals of this prime supermarket opportunity in the heart of Edinburgh ticked all the right boxes, which were further strengthened by the quality of covenant, longevity of income and attractive yields.
“There has been a scarcity of similar investment opportunities north of the border for some time and we are, therefore, continuing to see a keen interest among investors in this highly sought after sector of the market.”
