Edinburgh-based property investment specialist SRA Ventures has concluded missives to acquire a west of Scotland-based commercial portfolio of 24 retail investments in a multi-million pound deal.
SRA has agreed a contract to take over the portfolio of well-let and well-managed properties from Bruce Finance, including three Glasgow takeaway premises in Dumbarton Road, Eglinton Street, and Pollokshaws Road, as well as a hairdressers in Causeyside Street, Paisley, and a further takeaway in Moss Street, also in Paisley.
SRA Ventures – founded and owned by Scots entrepreneur Shaf Rasul – has continued to invest strongly in its own portfolio, particularly across Edinburgh, Glasgow and Stirling.
Mr Rasul said: “We saw a great opportunity to acquire these 24 fantastic properties and moved quickly to tie up a deal with Bruce Finance, offering significant value on both sides.”
SRA Ventures owns and manages a diverse range of industrial, retail, commercial and mixed use asset properties across Scotland, focusing on under-performing commercial assets.
It was advised on the acquisition by chartered surveyor Graham + Sibbald, which has worked in tandem with SRA on several recent deals.
Associate Partner at Graham + Sibbald, Graeme Millar said: “We are certain that SRA Ventures has secured another excellent investment that will reap significant value as part of a diverse, ever-burgeoning portfolio. As well-managed properties in Glasgow and Paisley, SRA is undoubtedly inheriting a portfolio of strong performing sites.”
Murray Stewart, Head of Real Estate at Edinburgh-based Gilson Gray, said: “As retained legal advisors, we supported SRA Ventures on this sterling acquisition, once again helping to progress it to a satisfying conclusion for all parties.
“We believe that the acquisition of these high-performing properties marks another astute investment.”