Real estate investment firm, Hunter REIM (Hunter), has secured a £30 million finance package from Royal Bank of Scotland’s Edinburgh Real Estate Finance (REF) team to help expand its UK Retail Unit Trust portfolio.
Launched in the summer of 2015, the Hunter UK Retail Trust draws on Hunter’s proven track record of investing in retail opportunities with significant asset management potential.
The fund, which invests in well-located retail assets in thriving town centres, has acquired and sold 29/31 Frederick Street, Edinburgh in a deal worth £7.25 million. The two units, which were sold to a private investor, incorporate 8,891 sq. ft. of space and were let to Mitchell & Butlers, who opened their first Edinburgh-based Miller & Carter steak restaurant on the premises.
The Hunter UK Retail Unit Trust currently comprises 14 commercial retail assets, with a combined purchase price of £78 million. The fund’s unitholders are comprised of major UK institutions.
Mark Hunter, Managing Director of Hunter REIM, said: “The funding from Royal Bank of Scotland will allow us to further expand our UK Retail Unit Trust portfolio, and build on the fantastic momentum we have already achieved over the last three years.
“We remain committed to investing in the high street and believe that Scotland offers superb investment opportunities in particular pockets. Drawing on our expertise, our selective ‘deal by deal’ approach will ensure that we continue to source the best assets for the fund, and we look forward to announcing further deals over the coming year.”
Martin McCourt, Relationship Manager at Royal Bank of Scotland Real Estate Finance, said: “Hunter has an exciting investment strategy to build a UK-wide retail portfolio, and Royal Bank of Scotland is proud to have supported the fund. Hunter’s recent deals in Edinburgh, and its ongoing commitment to growth, are encouraging to see. We wish the team continued success.”