Rockspring acquired the Grade A listed property on the west side of St Andrew Square in Edinburgh city centre on behalf of Hanover Unit Trust, from a US investor which owned it for 17 years.
The property has a Sainsbury’s store on the ground level with six floors of offices above. It was the head office of Scottish Widows before the life and pensions business was bought by Lloyds bank. The building occupies a prominent position in an area which is being transformed by major developments.
The Edinburgh office market offers a compelling investment case...Mischa Davis, Hanover fund manager, Rockspring
It faces the building on the south side of St Andrew Square completed by Standard Life Aberdeen, which houses the financial services giant’s investment management operation and restaurants such as The Ivy. nnually. Sainsbury’s bought the building in 1999 as a home for a store and a property development opportunity...