The complex of three buildings is located off Haymarket Terrace close to Haymarket station in the west of the city centre. It is fully let and produces an annual rental income of £2.0 million ($2.8 million). This represents an initial yield of 7.48% which will rise to 8% on rent review. Tenants include Scottish Enterprise, the Secretary of State for the Environment, Edinburgh Fund Managers, GE Capital Bank and Abbey National.
.Richard Moore Property Director at Warner Estate said: 'This is one of the largest office deals agreed in Edinburgh during the last year. It is a first-rate example of our strategy of acquiring larger office properties in larger cities.'
Lewis Ellis and Jones Lang LaSalle acted for Warner Estate and Fletcher King and Smith Cole Wright acted for the vendor.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.