The New Year continues to bring further opportunities for Edinburgh-based property specialists, SRA Ventures, with the acquisition of this prominently located retail parade.
Situated on the corner of West Main Street and South Street Armadale, West Lothian – the main thoroughfare through the centre of the town – these excellent investments are at the core of a thriving retail area and will secure a steady income stream. Occupiers currently include Ladbrokes, Yosh Kebab and David Brown Judo.
SRA Ventures, a leading investment and management company chaired by entrepreneur Shaf Rasul, primarily focuses on commercial property assets and believes that the acquisition of this trading parade will be a successful addition to an already impressive portfolio.
Chief Operating Officer, Susana Garcia, reiterates this view, stating that SRA will continue to purchase assets with marked potential to generate significant value, as has been demonstrated over the previous years with the acquisition of both neighbourhood shopping parades and industrial estates. “We will continue to acquire further promising sites in 2017 and are looking forward to delivering the same high level of asset management to our tenants,” she said.
Acting on behalf of SRA Ventures in this acquisition, long-term partners Graham & Sibbald Chartered Surveyors believe that the site benefits significantly from its prime corner location, making it an excellent asset. Keith Watters expresses this in financial terms in respect of Ladbrokes Betting & Gaming Ltd, one of the current occupiers.
“We note they were demonstrating a turnover of £830,678,836 – with pre-tax profits of £29,374,177 in the financial year to December 2015. The income stream offers 13 years 11 months of unexpired income until the expiry of the natural lease or 8 years 11 months until a break option. Ladbrokes represents a very low risk and the unit is currently trading well. Other occupiers within the parade also provide improving income opportunities.
SRA Ventures prides itself on its extensive market expertise as a sector leader and is confident that 2017 will herald further ambitious property transactions.
Chris Duff from City Commercial Property, who has been retained to assist in the asset management of the West Main Street acquisition, endorses this.
“I am delighted for the instruction from SRA Ventures and am excited to be working with them to help assist with their plans for continued growth in 2017.”
SRA Ventures where advised on the transaction by the Gilson Gray Real estate team.