Invista Real Estate has sold Hermiston Gait, Edinburgh to Scottish Widows Investment Partnership Property Trust (SWIP) for £66 mln (EUR 71 mln). The 28,000 m[sup]2[/sup] prime retail park is situated to the west of Edinburgh, adjacent to the proposed tram network and Edinburgh Park railway station. Invista Real Estate recently secured significant lettings to Tesco and B&Q. Other retailers represented are Currys, Halfords, Harveys, Carpetright, Staples, Mothercare and JJB Sports.
Invista Real Estate has sold Hermiston Gait, Edinburgh to Scottish Widows Investment Partnership Property Trust (SWIP) for £66 mln (EUR 71 mln). The 28,000 m2 prime retail park is situated to the west of Edinburgh, adjacent to the proposed tram network and Edinburgh Park railway station. Invista Real Estate recently secured significant lettings to Tesco and B&Q. Other retailers represented are Currys, Halfords, Harveys, Carpetright, Staples, Mothercare and JJB Sports.
Dermit Smith of Colliers CRE, which advised SWIP, said: 'The park has had a chequered history since it was built in 1995. However SWIP recognised the investment potential following Invista Real Estate’s success in securing B&Q and Tesco who are significant footfall generators. We believe these initiatives by the previous owner will provide the springboard for some exciting asset management opportunities.'
