• Text size      
  • Send this article to a friend
  • Print this article

Clydebuilt in £15m move for retail site

EDISTON Real Estate has completed its first acquisition on behalf of the Strathclyde Pension Fund for the recently launched Clydebuilt Fund.

It is understood around £15 million has been paid for the Gallagher Shopping Park and adjacent development land in Port Glasgow.

Former owner, Gallagher Developments, has spent 25 years remediating and building up the former shipyard site.

B&Q and Costa Coffee are the existing occupiers with Ediston suggesting it is in discussions with potential occupiers for a potential 200,000 square feet retail warehouse.

Development of that could see investment in the area top £30m.

Alastair Dickie, development director at Ediston, said: "This acquisition will secure good long-term income for the fund."

Contextual targeting label: 

Commenting & Moderation

We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis.
If you're a relatively new user then your comments will be reviewed before publication and if we know you well and trust you then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.