Shaf Rasul secures tenants for Sighthill warehouses

Demand from large-scale tenants 'remains high', said Shaf Rasul. Picture: Contributed

This article contains affiliate links. We may earn a small commission on items purchased through this article, but that does not affect our editorial judgement.

Entrepreneur Shaf Rasul's property investment firm SRA Ventures has secured tenants for two warehouse sites it recently bought in a Â£725,000 deal.

The warehouses, on Edinburgh’s Sighthill Industrial Estate, were acquired from Stirling-based steel stockholders Alexander (Scotland) & Co.

SRA has now agreed pre-let terms for one of the sites with Edinburgh-based oriental food wholesaler Crystal S & Co in a 15-year deal.

Crystal S, which has an annual turnover of £4 million, plans to relocate from its current base nearby and open a wholesale distribution cash and carry at the new site once a refurbishment programme is complete. The other property has been let to Alexander (Scotland) & Co under a five-year deal.

200 Voices: find out more about the people who have shaped Scotland

Rasul said: “I was pleased to snap up these excellent, versatile and well-positioned properties in the heart of Edinburgh where demand from large-scale users remains high.

“It was no surprise to me that tenants were then quickly secured for such prime sites, generating value on all sides.”

SRA Ventures owns and manages a portfolio of industrial, retail, commercial and mixed-use properties. Earlier this month it sold a 27,000 sq ft warehouse facility on the estate to Kangaroo Self Storage for £1.6m.

Click here to ‘Like’ The Scotsman Business on Facebook