HURSTWOOD Holdings will press ahead with a £1.5 million refurbishment programme after acquiring a prominent Edinburgh office building.
The Manchester-headquartered property investment and development company has bought 7 Lochside View, a 60,167 sq ft Grade A office building at Edinburgh Park, for an undisclosed sum in an off market deal.
Constructed in 2002, the three-storey building is currently home to two tenants – financial technology company, Origo Services Limited and engineering and professional services consultancy, WSP UK Limited.
Hurstwood Holdings plans to create a ‘best in class’ workplace environment that will appeal to institutional occupiers and deals able to be accommodated immediately. The new space will include the introduction of amenities including a gym, enhanced cycle facilities, and breakout, conferencing and meeting areas. It will also offer flexible accommodation in a new business centre with suites available from 1,000 sq ft through to full floorplates.
Stephen Ashworth FRICS, executive chairman of Hurstwood Holdings, said, “This is a high profile, landmark acquisition for Hurstwood and an important addition to our growing Scottish portfolio marking another significant investment in Scotland’s commercial property market. Hurstwood Holdings and its sister companies continue its strong year of acquisitions of new commercial investment assets, both industrial and office throughout England, Scotland and Wales and this latest deal takes our acquisition total for all of the companies over £10m so far this year, with further deals planned to exceed £20m for the year, taking the national portfolio to well over £400m.
“On the occupational side our teams are doing lots of deals and although the market is very challenging Hurstwood continues its policy of buying well, strong active ongoing management with its in-house teams in both Manchester and Aberdeen and providing the best value for our occupiers all over the UK.
“Our thanks to Together Money, Q&A, JLL, Rod Leslie of Welbeck, Gordon Pirie, Julie Black and our Scottish internal team.”
