A prime multi-let industrial estate in Edinburgh has been bought for around £8.5m by an undisclosed buyer.
Stenhouse Mill Wynd was bought through Knight Frank, which acted on behalf of Telereal Trillium.
The commercial property management company sold the modern industrial units - totalling 63,182 square foot space - for a deal reflecting a net initial yield of around 5.5%.
The site is located 2.5 miles to the west of Edinburgh’s city centre.
It is home to a range of tenants, including building materials retailer Travis Perkins, electrical supplies distributor Rexel and insurance firm Chubb.
John Rae, head of office and capital markets partner at Knight Frank Glasgow, said: “Investor demand for well-let industrial, trade counter, and logistics sites has been strong throughout the Covid-19 pandemic, despite the uncertain wider economic backdrop.
"There was a great deal of interest in Stenhouse Mill Wynd and we expect similar assets will continue to be an attractive proposition as we move further into 2021.
“Pricing has been similarly resilient for the right type of assets - broadly speaking prime offices, industrial property and quality warehousing - so we expect activity to pick up in the second quarter when a degree of certainty should return.”
Telereal Trillium is one of the UK’s largest property companies, owning and managing an £8bn portfolio of more than 12,000 properties.
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