BauMont Real Estate Capital, the value-add manager majority owned by M&G Real Estate, has acquired Quartermile One in Edinburgh, one of the city’s premier office buildings, alongside operating partner KZN Real Estate.
The office comprises 123,000sqft of Grade A space across six upper floors within the award-winning Quartermile development and is adjacent to the newly completed Edinburgh Futures Institute and close to The University of Edinburgh.
The Foster + Partners designed building has recently been refurbished, with works to move the building from gas to electric energy completed across 70% of the floorspace. BauMont plans to lease the refurbished fourth and fifth floors, while aiming to fully electrify the remaining space, targeting an EPC A energy accreditation, and upgrading end-of-journey amenities—including showers, lockers and secure cycle storage—to further enhance the occupier experience.
Harry Wentworth-Stanley, investment director at BauMont Real Estate Capital, said: “Quartermile One is a fantastic building, situated in the heart of Edinburgh. With occupiers focused on sustainability and amenity, and limited new development in the pipeline, this office is well positioned to benefit from the ongoing flight to quality. We’re looking forward to enhancing the building further and completing its transition to all-electric.”
Jon Brice, managing director at KZN Real Estate, added: “We’re delighted to be working with BauMont to deliver this business plan. Quartermile One is a standout asset in a prime location, and we see real potential to unlock further value through thoughtful asset management and sustainability-led improvements.”
The investment has been made by BauMont’s second value-add fund, which closed last year with over €450m in capital commitments.
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