A fully let Grade A office building in Edinburgh Park has been sold to DS Properties, signalling continued confidence in the city’s office investment market.
Lismore Real Estate Advisors completed the sale of 4–5 Lochside Avenue on behalf of Knight Property Group for an undisclosed sum.
The landmark building has been extensively refurbished and redeveloped and is regarded as one of the most sustainable office assets within Edinburgh Park.
The 42,519 sq ft property provides high-specification, energy-efficient office space arranged over three floors and is fully occupied by SP Transmission, Lumacron Technology, Pulsant and Anchorpoint Group.
RESILIENT MARKET
The deal comes amid renewed investor appetite for well-located, fully let and ESG-led office buildings in core UK cities, with Edinburgh continuing to stand out as a resilient regional market.
James Barrack Snr, founder and chairman of Knight Property Group, says: “From the outset, our strategy was to redevelop the building to meet the needs of modern office occupiers, with a strong focus on sustainability and quality.
“Achieving full occupancy ahead of the sale is a proven endorsement of the quality and specification of the property and underlines our ability to create, lease and realise value in high-quality office assets.
“This transaction allows us to recycle capital into the next phase of our development pipeline.”
Simon Cusiter, director of Lismore Real Estate Advisors, adds: “This transaction highlights the depth of investor demand for high-quality, fully-let office assets in Edinburgh.
“The property attracted good interest, reflecting both the quality of the development and the city’s status as one of the UK’s most resilient office markets.”
Warren Phillips, director of DS Properties, says: “It’s a first class asset in one of the UK’s big six cities. We’re very happy with the acquisition process and it was a pleasure dealing with Knight Property Group and their agent, Lismore, on the transaction.”
Lismore advised Knight Property Group on the sale, with Galbraith acting for DS Properties. Legal advice was provided by Q&A Law Practice and Morton Fraser MacRoberts.
