Roebuck complete the largest Scottish Commercial Property Deal of 2020

July 29, 2020

Roebuck Asset Management, alongside Hyundai Asset Management have completed the acquisition of Aegon’s UK headquarters, 1-3 Lochside Crescent, Edinburgh Business Park, for a purchase price of £133.25m.

The property comprises of a 247,500 sq ft HQ office building, located on the prestigious Edinburgh Business Park, in close proximity to Edinburgh airport and city centre. The property is let to Scottish Equitable plc (Aegon) for a further 17 years.

Nick Rhodes, Managing Partner of Roebuck Asset Management commented: “We are extremely pleased to have completed the acquisition of this prime office investment during the COVID-19 pandemic.  The experienced acquisition team including Dentons, Ereira Mendoza, Centridge Partners and Sheridan Property Consultants managed to stabilise all areas of the transaction over the UK’s lockdown, enabling the purchase to continue.

“1-3 Lochside Crescent, represents an exceptional investment opportunity, secured against robust credit and providing annual rental inflation. Edinburgh remains a highly attractive investment location offering favourable demand and supply dynamics.  With the continued occupier requirements and future development constraints, we anticipate further evolution of these positive market trends.  This will be the seventh transaction Roebuck have completed with South Korean investors and the second in Scotland.”

Hyundai Asset Management has also been a significant investor in the Scottish office market, having completed the acquisition of 1 South Gyle Crescent for £55.17m in 2019.

The purchaser was represented by Sheridan Property Consultants, Ereira Mendoza and Knight Frank Capital Advisory, with senior finance provided by Metropolitan Life.  Dentons acted as tax and legal advisor for the purchaser.

 

Latest News

NASH BOND PROMOTES TALENTED STAFF

October 17, 2021 - 11:40

Leading Central London retail and leisure property advisors Nash Bond have promoted Emma Strang, Lottie Newman and Matthew Peters to Director. In addition, they have promoted Alex Hughes to Associate [...]

+ Read More

CBRE IM BOOSTS F&B AND RETAIL OFFER AT HAMMERSMITH BROADWAY SHOPPING CENTRE

October 7, 2021 - 12:01

CBRE IM, advised by GCW and Nash Bond, have boosted the retail and leisure offering at Hammersmith Broadway Shopping Centre in west London with two new lettings. Joe & The Juice will open in 1,154[...]

+ Read More

IV REAL ESTATE SHAKES UP BRISTOL’S CORN STREET WITH LONDON COCKTAIL CLUB DEAL

September 27, 2021 - 08:39

IV Real Estate has secured its first letting at Gilbert House, a recently redeveloped 12,475 sq ft retail and office building at 37-39 Corn Street, Bristol. The London Cocktail Club will open its seco[...]

+ Read More

CONTACT

CALL US

+44 (0)20 7647 4420

ADDRESS

Wren House, Garden Close Lane, Newbury RG14 6PR