Exchange Plaza changes hands

Published: 15 August 2019

Murray Capital Group has completed the sale of its Edinburgh offices to M&G for price believed to be £54 million.

Exchange Plaza in Edinburgh has changed hands from Murray Capital Group to M&G Real Estate.

Murray Capital Group has completed the sale of its Exchange Plaza office building in Edinburgh to M&G Real Estate for a sum believed to be close to £54 million.

The property on Lothian Road is fully occupied after law firm Burness Paull almost doubled the size of its footprint when it took up office space there late last year.

The building also hosts Cairn Energy, Artemis Fund Managers, BrewDog and the All Bar One restaurant group.

Commercial property firm JLL acted for the Murray Group, which is run by David Murray Jr, in selling the building which in the heart of the city's financial district.

It is understood that M&G, which has around £33 billion of funds under management, bought the building on behalf of an overseas fund rather than one of its retail ones.

Last year, the investment manager acquired the four-acre mixed-use development site The Haymarket for £49.1 million, and is progressing plans for an office-led scheme totalling 380,000 sq ft...

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