SRA kicks off new year with flurry of activity
● Shop parade, restaurant and development site among the deals
0 The property investment specialist was founded and is owned by entrepreneur Shaf Rasul SRA Ventures, the Edinburgh-based property investment specialist founded and owned by entrepreneur Shaf Rasul, has kicked off 2018 with a raft of acquisitions totalling more than £2 million.
The company has signed off on five deals comprising the purchase of a parade of Glasgow shops, a Mongolian restaurant in Leith, a development site close to the University of Edinburgh, a retail investment in Corstorphine and an industrial unit in Linlithgow.
SRA owns and manages a diverse range of industrial, retail, commercial and mixed-use properties across Scotland, with a focus on under-performing commercial assets.
Rasul said: “We are pleased to have commenced 2018 with a real flurry of deals and transactions and are confident of quickly progressing the futures of all sites, whether that be through high-profile tenancy agreements or interesting redevelopment opportunities.
“Taken together, these deals represent a major strategic investment for SRA Ventures, and further exciting additions to our property portfolio that we expect to meaningfully enhance across 2018 through our proactive approach to asset management.”
The firm has acquired the row of Glasgow shops at 50-58 Hillington Road South with tenants including Boots, Ladbrokes, Nisa and Cardonald Carpets.
It has also purchased the former Kublai Khan restaurant in Leith. Terms were agreed with Saleem Haider of the Mumbai Mansion restaurant chain which now plans to open a new branch on the same site.
A further acquisition has seen SRA take over ownership of a development site in Edinburgh’s Meadow Lane.
A well-let retail investment in Corstorphine has also been snapped up by the firm. The premises at 5 Ormiston Terrace are let to Vision Express with seven years remaining on the lease.
Meanwhile, SRA has concluded missives on the purchase of a 5,500 square foot unit at Mill Road Industrial Estate in Linlithgow, which it believes will offer “significant opportunities”.