Invista Real Estate Investment Management has sold Diageo’s Scottish headquarters at Edinburgh Park to a private investor client of Rettie & Co.
The 42,000 sq ft building, which is let entirely to Diageo Scotland until November 2019 on FRI terms, without breaks, was purchased for £9.5m, reflecting a net initial yield of around 8%.
Nav Kalkat of Rettie & Co’s land, development and investment team said: “This acquisition illustrates the appetite from our private clients for quality investments across the UK. Although we are still in a challenging market, we are confident that 2011 will offer sound investment opportunities for our private clients.”
Lambert Smith Hampton advised Invista REIM.
paul.norman@estatesgazette.com
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