Resolution Property is close to securing a deal to sell Ocean Terminal in Edinburgh for £57m – a circa 8% yield.
Northern Irish investment group Wirefox, backed by Hong Kong equity, has placed the Scottish shopping centre under offer.
Resolution first put the 420,000 sq ft property on the market in April last year through CBRE, originally quoting £85m.
However, the June Brexit vote and subsequent market uncertainty coupled with the downfall of retailer BHS, one of its major tenants, caused delays in the sale process.
The BHS unit is vacant and the scheme is around 85% let. Around £48m of debt is secured on the asset through Lloyds.
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