Business park sold for £15 million

Published: 20 March 2019

The Seven Hills Business Park in Edinburgh has been bought by a property management fund for £15 million.

The 76,000 sq ft industrial space - the largest of its kind built on spec in Scotland for 20 years - is due to be completed this autumn. It comprises 11 units, some of which have already been taken up by Amazon and Napier University.

The sale illustrates both the confidence in the industrial market in Edinburgh...Seven Hills enjoys an enviable location...

Chris Kirkland , Director of Real Estate Investment and Development , Peveril Securities

 

The buyer is UBS Asset Management's Real Estate & Private Markets Triton Property Fund LP. It was previously owned by Peveril Securities in a joint venture with Citivale, who together put it up for build last month. 

Three of the largest units will have first floor office space. It was marketed by joint letting agents Ryden, Burns & Shaw and Montagu Evans.

Jonathan Hollick, Portfolio Manager of UBS-AM's Triton fund, said: "The development aspect of this investment is particularly attractive, leaving us confident in the asset’s ability to generate strong returns for the Fund...”

Full story via Insider News

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