Glasgow and East Ayreshire deals go through

Custodian Capital, part of the Mattioli Woods plc group, has purchased two single-let properties in Ayrshire and Glasgow City Centre in deals worth a combined £2.73m. Jones Lang LaSalle advised the property investment and management specialists on the acquisition of 3 Queen’s Drive, Kilmarnock, and 98 Argyle Street, Glasgow. The Queen’s Drive property comprises a modern industrial unit extending to 18,500 sq ft with a large private secure yard area, and is let to Royal Mail until November 2021 as one of the company’s major sorting offices in Ayrshire. The property benefits from excellent transport links to Glasgow and Ayr via the M77 motorway. Custodian Capital purchased the property for a syndicate of investors for £1.06m and will benefit from the rent per annum of £94,500, representing an attractive net initial yield of 8.43%.