Knight Property Group has sold a 42,519 sq ft Grade A office building at Edinburgh Park to DS Properties for an undisclosed price.
The recently refurbished 4-5 Lochside provides high-specification, energy-efficient office accommodation across three floors,
The building is fully let, with the occupier line-up comprising SP Transmission, Lumacron Technology, Pulsant and Anchorpoint Group.
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.”
Warren Phillips, director at DS Properties, added: “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.”
Simon Cusiter, director at Lismore Real Estate Advisors, said: “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.”
Galbraith Group and Morton Fraser MacRoberts advised DS Properties and Q&A Law Practice acted for Knight Property Group.
