PATRIZIA buys Apex House

Published: 19 February 2018

PATRIZIA Immobilien AG has bought the Apex House office complex in Edinburgh, UK, from Catalyst Capital for £26m.

The acquisition was made on behalf of a value-add fund managed by PATRIZIA for a large German pension fund based in Northern Germany.

As a UK financial centre, Edinburgh is second only to London...this acquisition is a tremendous opportunity to deliver excellent value for our clients.

James Muir, Managing Director UK Ireland, PATRIZIA

 

Built in 1991, Apex House offers over 90,000 sq ft across three buildings, in addition to 136 parking spaces. The property is approximately 80% occupied with an average remaining lease term of four years. Tenants include Scottish Enterprise, Scottish Further and Higher Education Funding Council, Mazars and Svenska Handlesbanken AB. 

The property is strategically located in the city’s Haymarket district. The area has benefited from significant public transport infrastructure upgrades over the past three years, including the redesign of Haymarket rail station and the completion of the Haymarket tram stop. Coupled with the existing bus network, Haymarket is now deemed a major transport hub and key office district...

Full story via CoStar news

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