RBS-backed Edinburgh property buys show confidence in city

Danobe Securities has acquired two retail assets in Edinburgh, thanks to a funding package from Royal Bank of Scotland.

Friday, 9th August 2019, 1:37 pm
Craigentinny Retail Park is let to Halfords, among others. Picture: Contributed

The business has expanded its portfolio with the addition of Craigentinny Retail Park and established retail assets on George Street.

The retail park is let to Halfords, Archers Sleep Centre, Connection Flooring and Sue Ryder, while the properties acquired on George Street are let to established retailer Laura Ashley and bar operator Eastside.

Bryan Naftalin, director at Danobe, said: "The retail industry has been hitting the headlines for all the wrong reasons of late, but this doesn’t paint the whole picture of the sector.

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"City centres remain particularly popular with consumers looking to mix leisure and retail, while retail parks continue to be convenient and easily accessible for shoppers.

"These investments show confidence in the sector and the belief that our best-loved brands will find a way to adapt and change to the current retail environment."

Martin McCourt, relationship manager at Royal Bank of Scotland, added: "It is encouraging to see that Edinburgh’s retail sector remains attractive to investors. Tourism continues to pick up across Scotland, particularly in Edinburgh and Glasgow, and Danobe’s investments demonstrate the wider confidence in the country’s city centres."