A property investment firm has bought a seven-acre site east of Edinburgh city centre, currently let out to The Range and Costa, for £13.2m.
Urban Logistics bought the site at Milton Link, with the current tenants set to remain in place as part of the deal.
It comprises a 75,478 sq ft warehouse and a 1,845 sq ft drive through unit.
The rent for the warehouse is £10.51 per sq ft and is let until 2033, with five yearly rent reviews, while the drive-through is rented at £40.65 per sq ft and is let through until 2034.
Urban Logistics has received 99% of rent due for the quarter to June. The remaining 1% is expected to be collected soon.
It also bought a property in Warrington for £8.5m, bringing the total acquisition cost to £21.7m.
Richard Moffitt, chief executive at Urban Logistics, commented: "We are delighted to announce the acquisition of these high-quality assets in Warrington and Edinburgh, which are well positioned to deliver essential goods that last mile to customers and businesses in two important local markets.
“In line with our strategic focus of value enhancement, both assets offer asset management opportunities in the short to medium term given the low passing rents."
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