Redevco buy 4/5 Lochside View on Edinburgh Park for 16.21m (UK)

Property investment company Redevco UK has recently acquired 4/5 Lochside View on Edinburgh Park from Merrill Lynch Investment Managers for £16.21m.

Let to Oracle, Convergys and WSP, the building comprises 4,941 m² (53,192 ft²) of high quality office space over three floors with 154 underground car parking spaces. Redevco's acquisition reflects a net initial yield of 6.1%.

Adam Starr of Redevco commented: "The building is one of the best on the Park and is ideally suited for multi-occupancy. Buying off rents of between £18.50 - £20 per ft², we see potential for growth in the short to medium term as the occupational market picks up."

Commenting on the acquisition, Chris Macfarlane, partner in charge of King Sturge said: "The purchase of this property fits well with Redevco's property investment portfolio and is part of their strategy to acquire quality property in key locations".

King Sturge LLP advised Redevco whilst MLIM was represented by Montagu Evans LLP and Jones Lang LaSalle.

Source: King Sturge,

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