Rasul's £2m spending spree

ENTREPRENEUR Shaf Rasul has embarked on a multi-million pound spending spree, snapping up a string of properties in the city and further afield to kick-off 2018.

Businessman Shaf Rasul

His property investment firm SRA Ventures has bought over the former Kublai Khan restaurant at 43 Assembly Street in Leith after terms were agreed with Saleem Haider of the Mumbai Mansion restaurant chain. Haider now plans to open a new branch of the restaurant on the same site.

A further acquisition has seen SRA take over ownership of a development site in Edinburgh’s Meadow Lane. It has been presold to property developers Di Rollo Limited, with SRA pricing terms for the purchase and development funding.

They have also been active in Corstorphine, buying 5 Ormiston Terrace, currently let to Vision Express with seven years remaining on the lease.

The property specialist has also concluded missives on the purchase of a 5,500 square foot unit at Mill Road Industrial Estate in Linlithgow which it plans to market to local and international customers.

The Edinburgh firm also took on a parade of shops at Hillington Road South in Glasgow with tenants Boots, Ladbrokes, Nisa, and Cardonald Carpets.

Dragon’s Den star Rasul said: “We are pleased to have commenced 2018 with a real flurry of deals and transactions, and are confident of quickly progressing the futures of all sites, whether that be through high-profile tenancy agreements or interesting redevelopment opportunities.

“We expect that all will soon be realising their full potential thanks to a combination of exceptional location, high-spec accommodation, and careful management. Taken together, these deals represent a major strategic investment for SRA Ventures.”

Graham + Sibbald partner Keith Watters, who advised, said: “SRA has again spotted significant opportunities in under-performing assets, and we are pleased to be working with them once more on realising that vast potential.”

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