February 2022

Acquisition, Letting & Sale of prime Car Showroom property in Edinburgh.

West Ranga are delighted to announce the simultaneous purchase of the former Kia, Suzuki & Mitsubishi car showroom at 26-32 Bankhead Drive, Sighthill, Edinburgh, immediate 20-year FRI letting to Cazoo and resultant investment sale to LXI REIT.

The resultant investment was sold to LXI REIT for a price of £6,658,000, reflecting a net initial yield of 5.00%.

Sincere thanks to Robert Forman and Fay Shearer (Burges Salmon LLP), Andrew Veitch and Bryce Stewart (Montagu Evans), Steve Thomson and Ryan Davidson (Innes Building Consultancy) and Stewart Sheridan (Sheridan Keane Real Estate Investment) who all moved mountains on the WR side.

Thanks also to Eric Young of Orinsen (who acted for the vendor, John Martin Group) and Tom Riding of CBRE (Tenant).