Edinburgh development sold for pounds 42m

Edinburgh development sold for pounds 42m

MARYLEBONE Warwick Balfour has bought Fountain Park from Scottish & Newcastle and THI for pounds 42m cash, the group announced yesterday. The Fountain Park commercial leisure development, currently under construction in the centre of Edinburgh, is 84 per cent pre-let to large tenants and is expected to generate annual rental income of approximately pounds 2.9m, reflecting a prospective initial yield of 6.65 per cent, Marylebone Warwick Balfour said.

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