German institution 3i Fonds has sold beverage company Diageo’s Scottish headquarters in Edinburgh for £15.4m.
The 41,600 sq ft building on Edinburgh Park, west Edinburgh, was bought by Invista Real Estate, HBOS’s AIM-listed property fund.
The deal at number 5 Lochside Way represented a net initial yield of 4.99%, based on a lease to the drink giant until the end of 2019.
Diageo leased the building at 5 Lochside Way in 1999 for the global headquarters of its subsidiary UDV.
Henderson Global Investors, on behalf of 3i, purchased the building in 2001 for £14m.
King Sturge acted for Invesco Real Estate, which managed the premise on behalf of 3i. Invista was represented by Nelson Bakewell.
