A prominent Wrexham shopping park has been traded for £22 million. Edinburgh-based Ediston Property Investment Company bought Plas Coch Retail Park, which is home to retail titans including Pets at Home, Boots and Currys PC World.
The £22.4 million procurement from Diageo Pension Trust Limited will be finalized later this month. This acquisition comes after the town’s Eagles Meadow mall was sold to a group of private financers prior this year. Ediston Property Investment Company hope to make a 6.5% profit in the beginning, which is expected to ascend to more than 7% in March, at a time when the rent- free period at the park ends.
Plas Coch Retail Park, which adds up to 94,000 sq ft and is nearby a Sainsbury’s store. Mainstream fashion and homeware brand TK Maxx has migrated to Plas Coch from the town focus’ Island Green shopping park. Calum Bruce, director of investment at Ediston Properties Limited, said that the purchase proceeds with their strategy of developing the organisation in a supportable and trustworthy way by securing amazing resources with a strong pay stream and asset management angles to exploit.
The buy will be financed from the organisation’s current money assets and conveys its aggregate venture to £142 million in 12 assets since October 2014. In April, Eagles Meadow mall in Wrexham was sold to a group of private financial investors for an undisclosed amount.