•    An opportunity arose to acquire a well-located retail warehouse park from a motivated vendor at a relatively soft price.

•    Fully let asset with a WAULT to breaks of 6.2 years at the time of acquisition, offering a secure income profile with asset management potential.

•    Strong tenant line-up including Halfords, albeit with scope to improve tenant mix.

•    Business plan focused on repositioning the asset towards a roadside / trade-led scheme, improving value through yield compression.

•    Rankeilour subdivided and reconfigured Unit 3, securing lettings to Greggs and Subway.

•    Assignation of Unit 2a lease to McGuirks Golf for their first mainland UK store.

•    Introduced EV charging infrastructure, creating an additional income stream and enhancing roadside appeal.

•    Rent reviews were exercised and the rental profile improved.

•    Following the successful execution of the business plan, the property was brought to market and sold for £5.725m, reflecting an IRR of 22.1% (pre-fees).

*IRRs are stated before performance fees. All other associated fees are included.