LISMORE Real Estate Advisors has announced the sale of 4-5 Lochside Avenue in Edinburgh Park on behalf of Knight Property Group for an undisclosed sum.
The sale to DS Properties is said to underscore the growing confidence in the capital’s office investment market.
The Grade A building has been refurbished and redeveloped by Knight Property Group. It is fully-let to a tenant line-up comprising SP Transmission PLC, Lumacron Technology Ltd, Pulsant Ltd, and Anchorpoint Group Ltd.
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.”
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.
