German investor Triuva has acquired a new office building, designed by Sir Norman Foster, in the Quartermile redevelopment district of the Scottish capital Edinburgh for £68 mln (€86 mln).
Triuva secured Quartermile 4 in an off-market club deal from Prudential Assurance Company
Designed by architect Sir Norman Foster, the property comprises 12,000 m2 of office space and was fully pre-let prior to practical completion on long/term leases to international tenants. The seven-storey building is located directly opposite the University of Edinburgh and within short walking distance of the City and transportation hubs.
'In a European comparison, Edinburg currently provides for an above-average risk-return profile,' said Manuel DeVigili, head of investment management at Triuva.
Property adviser Cushman & Wakefiled and law firm HBJ Gateley represented Triuva in the transaction.
