Seafield Retail Park sold ahead of development plan – Daily Business

Sold: Seafield Retail Park

Seafield Retail Park, Edinburgh, has been sold on behalf of Rankeilour Properties for £5.74 million to Crown Estate Scotland.

The park, in an area designated for development, is fully-occupied with five tenants – Connection Flooring, Greggs, Halfords, McGurks Golf and Subway – and benefits from EV charging operated by For:Ev. It produces a total annual rental income of £428,630.

Rankeilour Properties acquired the property in late 2020 and has implemented an active asset management strategy.

Galbraith acted for the vendor, Rankeilour Properties, with legal advice from Shepherd & Wedderburn.  Agents CBRE represented the buyer, Crown Estate Scotland. 

Jamie Thain, investment partner at Galbraith, commented: “Throughout the country, the retail warehouse sector continues to see strong levels of tenant demand and rental growth, which in turn underpins pricing.

“Retail parks and out‑of‑town terraces remain among the strongest‑performing retail sub‑sectors. Vacancy rates continue to tighten and rental growth is being achieved in most well‑located schemes.

“This is largely being driven by consumer preference for easily accessible locations with free parking, value‑led operators, and efficient store formats.”

Jack Chandler of CBRE commented: “Seafield Retail Park lies within a strategic location of future investment and redevelopment.

“The acquisition by Crown Estate Scotland demonstrates their ambition to diversify their portfolio into well positioned, strategic, and resilient real estate.”

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