St John’s High Income Property Fund has acquired a distribution warehouse at the Eurocentral logistics park in Scotland for an undisclosed price.
The detached 72,422 sq ft warehouse at 30 Coddington Crescent, which features a 6,869 sq ft canopy and 1.6-acre secure concrete yard, is let to building materials distributor SIG Trading until 2033.
Eurocentral is located 11 miles to the east of Glasgow and 31 miles west of Edinburgh and is located close to Scotland’s key motorway networks, airports and a rail freight terminal.
Richard Bryan, from St John’s High Income Property Fund, said: “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.”
Martyn Brown, capital markets director at CBRE, added: “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.”
