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British Airways Pension Fund Buys into Edinburgh Retail Park

LONDON-The British Airways pension Fund has bought Phase 2 of the Straiton Retail Park in Edinburgh from Haslemere for pounds #17.7 million ($28 million).

By Graham Parker | Updated on November 18, 2002

LONDON-The British Airways pension Fund has paid £17.7 million ($28 million) for phase two of the Staiton retail park, one of Edinburgh’s largest retail warehouse parks. Straiton Retail Park is situated to the south of Scotland’s capital city,on the A720 city by-pass. Phase 2 was completed in 2002 and comprisesfour retail warehouse units totalling 63,000 sf. tenants are TK Maxx, Room 2, MillerBrothers and Kwik Save.

The original phase was completed in 1996. It has 200,000 sf of retail warehousing plus a 212,000-sf Ikea store and units for Sainsbury’s and Costco. The purchase will show British Airways Pension Fund a netyield of over 6% once a forthcoming rent review is completed inDecember.

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