Triuva Kapitalverwaltungsgesellschaft has acquired the office building Waverley Gate, Waterloo Place 2-4, Edinburgh, in an off-market deal.
The purchase price for the landmark property, built in 2005 with an area of 19,000 m2, is around €75 mln. The vendor is M&G Real Estate.
'The Brexit vote has opened a window for competitive entry prices. Further acquisitions in the UK are planned in the short term,' commented Manuel DeVigili, head of investment management at Triuva.
The modern office property, certified BREEAM 'very good', is set behind an historic façade and situated in the centre of Edinburgh. It is fully let to a number of key tenants including Amazon, H&M, Microsoft and the UK’s National Health Service.
The property is located directly opposite the planned St James Shopping Centre, a mixed-use scheme with an estimated development value of £850 mln. Scheduled for completion in 2020, this development will provide 160,000 m2 of retail, leisure, hotel and residential space.
