East Kilbride Retail Park sold in eightfigure deal

East Kilbride Retail Park, home to big-name retailers including The Range, Pets at Home and Currys PC World, has changed hands in a £12 million-plus investment deal.

The site has been bought by London-based Corum Asset Management, which was represented by prop - er ty firm Knight Frank, while Cushman & Wakefield acted on behalf of the vendor, Aberdeen Standard Investments.

The £12.25m deal represents a healthy net initial yield of 10.49 per cent.

The 59,404 square foot site is part of a substantial retail warehouse cluster in East Kilbride, adjacent to Kingsgate Retail Park.

Rhu Wish art, a surveyor based at Knight Frank’ s Edinburgh operation, said: “The deal for East Kilbride Retail Park shows there is still an appetite for welllocated retail warehouse assets, despite the ch allen gespos ed by online shopping.

“It also underlines investors’ desire for long-term income supported by strong covenants while macro-economic conditions remain uncertain.”