WG Mitchell (Scotland) has paid Henderson Global Investors £7.1m for Miller House,18/20 George Street, Edinburgh. The off-market deal reflects a yield of 7.23%
Hard Rock Café occupies the ground and part of the lower ground floors of the six-storey building. The upper floors are let on long leases to the Accounts Commission for Scotland and Cairngorm Management.
Cushman & Wakefield Healey & Baker’s Calum Flockhart commented: “We believe strongly that this end of George Street is going to show continued improvement with development activity around St Andrew Square.”
Henderson was advised by Drivers Jonas while WG Mitchell (Scotland) was advised by Cushman & Wakefield Healey & Baker, acting jointly with its associate office Lisney, in Belfast.
EGi News 02/05/02
