28 September 2018: Aprirose, the real estate investment company, has acquired 7 Lochside View for £13.3 million from RDI REIT P.L.C. (“RDI”), the income focused UK-REIT.
7 Lochside View, a modern office building at Edinburgh Business park, comprises 60,567 sq ft over two floors and has 238 car parking spaces. The property is fully let to Scottish Water Business Stream, Origo Service, WSP and Viavi Solutions UK.
The acquisition is Aprirose’s second at the business park following the purchase of Miller House in August 2016 for £10 million. Aprirose now owns 66% of Edinburgh Business Park’s multi-let office space.
Manish Gudka, CEO, Aprirose, said: “Edinburgh is a thriving city attracting highly sort after tenants and ranks as Europe’s fourth largest financial centre. It has strong occupier demand for quality prime office space and low vacancy levels. As such, we’re seeing the out of town market driving rental growth and we saw the purchase of 7 Lochside View as a good opportunity, which complements our Miller House asset.
“We now own a number of properties in Scotland and will continue to look for further opportunities if they fit with our investment strategy.”
Edinburgh Business Park, which comprises 145 acres with c.1 million sq ft of office space, has a strong tenant base which includes JP Morgan, AEGON, HSBC and BT. The business park is located at an established transport interchange and is well connected to Edinburgh airport.