A joint venture between Cedarwood Asset Management and David Samuel Properties have sold One Masterton Way at Tannochside Business Park in Uddingston for £4.3m.
The investment was subsequently marketed and sold to ARA Dunedin following a competitive closing date situation.
Galbraith investments acted on behalf of the joint venture to sell the property, which has a net initial yield of 5.57%.
The 37,000 sq ft property is located at Tannochside Business Park just off the M8 motorway, and was recently fully refurbished by Cedarwood.
The unit is currently let out to the Artisanal Spirits Company at £255,000 for period of 10 years.
Will Sandwell, investment partner at Galbraith, commented: “Cedarwood have significant industrial experience across the UK, this sale executes their business plan as an early mover in the Scottish mid box market.
"The real value was added via the high quality refurbishment, allowing a quality tenant to be secured on strong lease terms. The continued demand for industrial investment property determined it was the right time for a sale in this instance.”
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