CuthbertWhite acquired this single let office building on Edinburgh’s St Andrew Square in 2017 on behalf of Rockspring in an off-market deal, which resulted in a purchase price of £25.75m and yield of 5.03%. We were able to secure and complete the purchase on a quick turnaround, adding this landmark building to the fund’s expanding portfolio. We are now assisting with implementing the next stage of the building’s asset management.
CuthbertWhite quickly identified 9/10 St Andrew Square as a long term potential holding for us following a tour of Edinburgh in the final quarter of 2017. The asset was not on the open market, albeit we managed to agree its purchase and complete in approximately 3 working weeks. We are pleased to have secured such a well located asset in an area set to benefit from the continued revitalisation of the Square.