Deka Immobilien GmbH has purchased the Atria office property in Edinburgh for approximately £105m. The seller was the City of Edinburgh Council. The property is being purchased for the open-ended real estate mutual fund Deka-ImmobilienEuropa.
The office building was completed in 2013 and is located in the central business district of Edinburgh, the second largest financial centre in Great Britain after London. Atria consists of two buildings (Atria One and Atria Two) offering a total of approximately 18,580m² of leasable space and 20 parking spaces. The property is currently leased to 10 tenants. The main tenants are financial services providers Brewin Dolphin Ltd. and PWC Services Ltd. The property has received British BREEAM ‘Excellent’ certification for sustainable construction.
This first investment in Edinburgh allows fund management to open up the real estate market in another established business metropolis in Europe.
