Lothbury Settles Rent Review Ahead Of Expectation At Edinburgh Industrial Unit

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Lothbury Investment Management Limited, on behalf of Lothbury Property Trust, has settled a rent review on the lease of a 38,912 sq ft industrial unit in Turnhouse Road in Edinburgh ahead of expectation.

The freehold property is let to FedEx, owner of TNT Express, and has been in the Lothbury portfolio since 2010.

Jamie Gordon, asset manager at Lothbury Investment Management, said: “We are very pleased to have settled the latest rent review on this unit. The passing rent increased from £485,675 to £550,000 per annum, which was ahead of expectations. This followed the acceptance of the tenants’ Calderbank counteroffer to settle the June 2021 rent review.”

The unit is located close to Edinburgh Airport and has easy access to the M8 motorway and A720 City of Edinburgh bypass.

“This is a good result for the Fund as it continues to invest in urban logistics and ‘last mile’ delivery properties with immediate access to the motorway network, and which serve wide catchment areas and large conurbations,” added Jamie.

Knight Frank represented Lothbury; FedEx was represented by Mark Allen.

Important notice


This is the website of Lothbury Investment Management Limited of 1 Angel Lane, London, EC4R 3AB, United Kingdom, a company registered in England with registered number 04185370. Lothbury Investment Management Limited (or “LIM”) is authorised and regulated by the Financial Conduct Authority in the United Kingdom.

Lothbury Investment Management Limited is the manager of the Lothbury Property Trust ("LPT") and the Lothbury Global Feeder LP ("LGF") (together, the “Funds”). LPT is a sub-fund of the Lothbury Global Institutional Funds, which is regulated by the Central Bank of Ireland. LGF was established as a limited partnership in Jersey under the Limited Partnerships (Jersey) Law 1994 through the filing of a declaration of limited partnership. The Funds are alternative investment funds (“AIFs”) for the purposes of the Alternative Investment Fund Managers Directive (2011/61/EU) (the “Directive”). LIM has been appointed and acts as alternative investment fund manager (“AIFM”) in respect of the AIFs. For these purposes, LIM is authorised and regulated in the United Kingdom by the Financial Conduct Authority for the purposes of managing unauthorised AIFs (and for various other activities). The Funds are also unregulated collective investment schemes for the purposes of the United Kingdom Financial Services and Markets Act 2000 (the “Act”).

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