Knight Property Group is pleased to announce the successful sale of 4-5 Lochside Avenue, for an undisclosed sum. Advised by Lismore Real Estate Advisors, the sale to DS Properties underscores growing confidence in Edinburgh’s office investment market.
Prominently positioned in Edinburgh Park, the landmark Grade A building has been extensively refurbished and redeveloped and stands as one of Edinburgh Park’s most sustainable office buildings.
Offering high-specification, energy-efficient office accommodation, extending to 42,519 sq ft across three floors, 4-5 Lochside Avenue is fully-let to a strong tenant line-up, comprising SP Transmission PLC, Lumacron Technology Ltd, Pulsant Ltd and Anchorpoint Group Ltd.
Commenting on the sale, James Barrack Snr, Founder and Chairman of Knight Property Group said:
“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 added:
“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 said:
“It’s a first class asset in one of the UK’s big 6 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.”
4-5 Lochside Avenue benefits from outstanding public transport links and excellent connectivity. The area is home to a range of major occupiers including Aegon Asset Management, Diageo, JP Morgan, HSBC and Tesco Bank, further underlining the strength of the location.
Lismore Real Estate Advisors represented Knight Property Group, whilst Galbraith Group advised DS Properties. Solicitors were Q&A Law Practice for Knight and Morton Fraser MacRoberts for the purchaser.
