Glasgow trade estate in change of ownership

A trade and retail park in Glasgow has changed hands in a £14.1 million deal.

Regional REIT, a real estate investment trust focused on the UK regional office and industrial property markets, said it had agreed a deal with an unnamed buyer for The Point trade and retail park at Hamilton Hill.

The property, extending to more than 158,000 square feet, was acquired by the trust in 2013 and comprises 11 indi- vidual units let on ten separate leases. Completion of the deal is expected to take place in early July.

Stephen Inglis, chief executive of London & Scottish Investments, the trust’s asset manager, said: “Over the last five years, we have applied our strategy of active asset management at The Point, creating a fully let and stabilised property with robust rental streams.

“This has resulted in us achieving strong pricing from an institutional purchaser,” he added.