Kanam Grund's Leading Cities Invest fund (LCI) has purchased an office property in the Scottish city of Edinburgh for an undisclosed sum.
The Greenside office building at 12 Blenheim Place is located in the centre of the Scottish capital and is currently let to three tenants. The five-storey property was originally built by Scottish Equitable for their own occupation in 1989.
Occupiers of the office include a software development company working for financial consultants, the management unit of one of Great Britain's largest onshore wind park portfolios and a technology company specialising in the development of autonomous driving software.
The building includes outdoor and indoor car parking spaces as well as bike storage space and shower and changing facilities.
Following this acquisition, LCI is now invested in 15 properties in Germany, Belgium, France and the UK. Kanam Grund said that negotiations for another property were about to be completed. The fund concluded the last business year with an average return of 3.3%.
