Real estate investment and asset manager, APAM has acquired OneSixty Dundee Street in Edinburgh city centre for £9.64m.
Originally developed as the headquarters for brewing company, Scottish and Newcastle, the 48,000 sq ft office is located in the Fountainbridge area of Edinburgh city centre and is multi-let to nine tenants, including Jacobs UK and Experian.
The property has one vacant suite of 3,500 sq ft, which is available for immediate occupation.
Fountainbridge includes one of the last gap sites in Edinburgh city centre and is currently undergoing a major mixed-use transformation, with commercial, PRS and Student Accommodation being delivered in the area.
Patrick Freestone, Senior Investment Manager at APAM said: “We are delighted with the acquisition of OneSixty Dundee Street in conjunction with one of our South African private clients. The property sits within an exciting micro location in Edinburgh’s city centre, and with the prevailing supply and demand dynamics in Scotland’s capital, we see the acquisition as a great opportunity to capture growth and add value through our active asset management abilities.
“We continue to actively seek core and core plus opportunities for our joint venture partners and private clients across all of the key UK regional markets and with lot sizes ranging from £5m to £100m.”
Dougray Smith & Montagu Evans acted for APAM.
JLL acted for the vendor.