Shaf Rasul’s firm snaps up two industrial units in £1.5m deal
Entrepreneur Shaf Rasul’s property investment firm has struck a £1.5 million deal to acquire two industrial units.
The deal for the Newbridge sites takes the total invested by Rasul’s SRA Ventures business this year to more than £6m.
The neighbouring ware- house properties on the Lochend Industrial Estate were purchased for £675,000 and £800,000 and a £60,000-a-year rental deal has already been agreed on the former with machinery hire firm Plantfinders (Scotland).
The units were acquired from Thistle Peat and school outfitters Leonard Hudson.
Other deals completed by SRA this year include the £1.6m purchase of a warehouse on Sighthill Industrial Estate from storage specialist Len Lothian, which was then sold to Kangaroo Self Storage. In March SRA also purchased two other Sighthill warehouse properties and has since agreed pre-let terms for both.
Rasul said the latest acquisitions “represent a major strategic investment for SRA Ventures and are further excit- ing additions to our property portfolio”.
Graeme Millar of Graham & Sibbald, who advised on both transactions, said: “We continue to see a strong market for industrial sites in Edinburgh where choice is often at a premium.”
Current occupiers on the Lochend Industrial Estate include Scotmid, Fed Ex and Debenhams.