It is strategically located to the west of the city and benefits from excellent transportation links which make it a very popular shopping destination covering a wide and growing residential catchment.

BauMont’s business plan will further enhance the retail offer. Ediston Real Estate, widely recognised as a leader in delivering successful value add strategies to UK retail property assets, will assist in the delivery of the business plan.

Natalie Harrison, investment director at BauMont, said: “We are delighted to have acquired such a high-quality property with the support of the team at Royal Bank of Scotland who were professional and efficient, delivering a funding package at considerable pace shortly after completion of the acquisition which was initially funded with equity.”

Jamie Drummond, who led the transaction for Royal Bank of Scotland, added: “This is our second transaction with the BauMont team. They have established themselves in the market as a highly skilled property investor delivering insightful value add strategies.”