The Leading Cities Invest (LCI) is growing and diversifying its portfolio to include another major European city. After acquisitions in Brussels, Dresden and London, the real estate fund has acquired the Greenside office building at 12 Blenheim Place in Edinburgh. The purchase price was not disclosed.
The property is located in the centre of the Scottish capital only a short walk from the main station and Calton Hill. This five-story building, which was originally built by Scottish Equitable in 1989, has undergone comprehensive refurbishment by a Scotland-based developer and investor Chris Stewart Group. Tenants include a software development company working for financial consultants, the management unit of one of Great Britain's largest onshore wind park portfolios and a technology company specializing in the development of autonomous driving software.
The building includes outdoor and indoor car parking spaces as well as bike storage space and shower and changing facilities. Greenside is in close proximity to Edinburgh St James which is currently being redeveloped and extended. By 2020 this area is to include retail outlets, a luxury hotel with over 200 rooms, a multiplex cinema, 250 apartments and 30 restaurants.