Edinburgh investment company kick-starts 2018 with £2m raft of acquisitions

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Edinburgh investment company kick-starts 2018 with £2m raft of acquisitions

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Edinburgh-based property investment specialist SRA Ventures has kicked off 2018 by announcing a raft of acquisitions totalling more than £2million.

The company has just concluded five separate deals including the purchase of a parade of Glasgow shops, a Mongolian restaurant in Leith, a development site close to the University of Edinburgh, a retail investment in Corstorphine, and an industrial unit in Linlithgow.

SRA – founded and owned by Scots entrepreneur Shaf Rasul – has acquired the row of Glasgow shops at 50-58 Hillington Road South with tenants including Boots, Ladbrokes, Nisa, and Cardonald Carpets.

It considers the purchase of the well-located retail parade to be a “great value add opportunity for SRA Ventures and a strong addition to our portfolio”.

The property investment specialist has also purchased the former Kublai Khan restaurant at 43 Assembly Street in Leith. Terms were agreed with Saleem Haider of the Mumbai Mansion restaurant chain which now plans to open a new branch on the same site.

A further acquisition has seen SRA take over ownership of a development site in Edinburgh’s Meadow Lane. It has been presold to property developers Di Rollo Limited, with SRA pricing terms for the purchase and development funding – and the partnership hopes that further similar deals will follow.

A well-let retail investment in Corstorphine has also been snapped up by SRA. The premises at 5 Ormiston Terrace are let to Vision Express with seven years remaining on the lease.

Finally, SRA has concluded missives on the purchase of a 5,500 square foot unit at Mill Road Industrial Estate in Linlithgow. The company believes that Unit 38 will offer significant opportunities for companies serving both local and international customers.

SRA owns and manages a diverse range of industrial, retail, commercial and mixed use asset properties across Scotland, focusing on under-performing commercial assets.

Mr Rasul said: “We are pleased to have commenced 2018 with a real flurry of deals and transactions, and are confident of quickly progressing the futures of all sites, whether that be through high-profile tenancy agreements or interesting redevelopment opportunities.

“We expect that all will soon be realising their full potential thanks to a combination of exceptional location, high-spec accommodation, and careful management.

“Taken together, these deals represent a major strategic investment for SRA Ventures, and further exciting additions to our property portfolio that we expect to meaningfully enhance across 2018 through our proactive approach to asset management.”

The legal aspects of all five deals were overseen by Gilson Gray’s Head of Real Estate, Murray Stewart.

SRA was advised on the acquisition of the Glasgow retail parade by Senior Surveyor Mark Gillies of Graham + Sibbald. Mr Gillies said: “The securing of this deal has provided us with yet another excellent opportunity for our in-house team to assist SRA Ventures in proactively asset managing the acquisition and using our expertise to add further value.”

Partner at Graham + Sibbald, Keith Watters advised on the two Edinburgh deals, and said: “SRA has again spotted significant opportunities in under-performing assets, and we are pleased to be working with them once more on realising that vast potential.

“The conclusion of these deals on behalf of SRA Ventures represents further major acquisitions in a long series by Graham + Sibbald, and hopefully just the first of many in 2018.”

SRA Ventures has also appointed Sheridan Property Consultants on a joint basis with Graham + Sibbald to sell a mixed-use investment situated with the heart of Stirling’s city centre.

Graeme Millar of Sheridan Property Consultants said: “We are delighted to be acting on behalf of SRA Ventures in assisting with the disposal of this unique, B-listed, mixed-use commercial investment.

“Demand for well-located investments with strong property fundamentals remains high and we are confident that this opportunity will appeal to a wide variety of investment companies.”

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