New Kirkgate, Edinburgh

  • A 1960s shopping centre purchased in a joint venture with GE Capital in February 2004.  
  • Identified retailers were targeted and secured, ensuring a 25% increase in the rental tone within six months.  A planning application was submitted for the redevelopment of 17 undersized units to form a new 17,000 sq ft anchor store, which was subsequently developed by Lidl for their own occupation.
  • The property was sold in 2006 showing an un-geared IRR of circa 20%.
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