New Star buys Edinburgh offices for £30m

New Star Asset Management has bought Dundas House, Edinburgh from the Standard Life Heritage With Profits Fund for £30m. The 139,000 sq ft office block on Brandon Street will continue to be leased by Standard Life, subject to rent reviews every 5 years. The lease expires in 2031. David Stewart, fund manager at Standard Life Investments said: “Following considerable interest in the property, we are pleased to have concluded the sale with New Star Asset Management in a short time and believe this is a good outcome for both companies.”  Standard Life was represented by DTZ.