Kilpatrick Property Group's new deal activity since the start of the year has hit £8m, following a double purchase - one on either side of the border.

Among the latest investment transactions for the Glasgow-based group is the £2.05m purchase of more than 20,000 square feet of office and retail space in Liverpool's prime office area, Castle Street, from Threadneedle.

And in Falkirk, Kilpatrick also bought nine warehousing units, totalling 36,000 sq ft, forming Middlefield Trading Estate, for £1.87m from AXA.


Chief Executive Maurice Glen said: "These acquisitions demonstrate that we have confidence in the UK commercial property market in what are uncertain times. Kilpatrick's ability to identify properties with growth potential and fund such opportunities on normal banking terms, gives the Company a clear advantage in today's marketplace. The Company's longstanding funding connections and track record of delivery will pay significant dividends over the medium term.

"Having implemented virtually no acquisitions of any meaning over the course of the last two years, we are now seeing opportunities to implement purchases on a selective basis which can not only be strongly earnings enhancing from the outset, but also offer significant rental growth potential through the implementation of a pro-active asset management strategy."

Kilpatrick's Liverpool and Falkirk acquisitions follow recent transactions by the Company in Peterhead, Blantyre and Rutherglen.

(GK/JM)