Ediston

The Company has completed the sale of Knotty Ash, Liverpool, a leisure unit let to Mecca Bingo Limited until September 2022. The sale price was £2,915,000, which is in line with the 30 June 2019 valuation. Due to confidentiality the Company is unable to disclose who the purchaser is. The lot size is well below the average lot size of the Company. We believe the sale proceeds can be reinvested in a way which is value accretive for investors, either by carrying out asset management on existing properties or acquiring a new building in line with the preferred lot size and investment strategy of the Company.

Despite the negative sentiment which surrounds the retail sector, we continue to do deals in our retail warehouse portfolio. In June we completed a lease extension with B&Q plc at Clwyd Retail Park in Rhyl. B&Q is the anchor tenant on the park and occupies a unit of 41,520 sq. ft. The DIY retailer has underscored its commitment to the location by signing a lease extension which will expire in June 2029. B&Q will continue to pay £508,644 per annum and will receive a 13-month rent free period to facilitate the deal. This success follows transactions completed earlier in the year at our retail warehouse parks in Barnsley, Hull, Prestatyn and Sunderland. All these lettings and lease renewals have secured

Ediston has launched its refurbished office suite at St Philips Point in Birmingham to the market.  Click the link below to see how we are getting The Point across to prospective tenants. www.stphilipspoint.co.uk