The Galbraith Commercial Investment team have acted on behalf of Wesleyan Assurance Society to identify and acquire a prime motor trade property investment in Sighthill, Edinburgh for £9.10m reflecting a net initial yield of 7.50%. Edinburgh Audi extends to 43,000 sq ft and provides a modern full service dealership on a generous and prominent site. The property is leased to VW Group Ltd until 2059 and provides inflation linked rent reviews every 5 years.

Will Sandwell, Partner at Galbraith said:

“This deal reflects our growing relationship with Wesleyan Assurance Society and compliments their Scottish property investment portfolio.  We targeted the sector and identified a best in class dealership with some compelling long term investment fundamentals. Our research showed this opportunity was very attractive compared to other sectors at this point in the market cycle. The seller was well prepared and property due diligence concluded swiftly, the transaction closing in 20 days.”

Cassy Auld at TLT provided legal advice to Wesleyan. Galbraith Building Consultancy provided technical building due diligence. The vendor, Legal & General were represented by Knight Frank (agency) and Eversheds (legals).