One of Edinburgh’s most prominent office buildings sold in ‘landmark’ deal

Manchester-headquartered property investment and development company Hurstwood Holdings has bought 7 Lochside View at Edinburgh Park for an undisclosed sum. The property, which provides 60,167 square feet of Grade A office space, was previously sold for £13.3 million in 2018 to Redefine.

Constructed in 2002, the building is currently home to two tenants - financial technology company Origo Services and global engineering and professional services consultancy WSP UK - who occupy a total of 20,000 sq ft between them.

Positioned at the main entrance to Edinburgh Park, 7 Lochside View occupies one of the most visible sites on the capital business park and is located just minutes from Edinburgh Airport and the city centre.

The park is home to a mix of global occupiers and continues to attract significant inward investment.

Hurstwood Holdings plans to “comprehensively reposition” the building, initiating a £1.5m refurbishment programme. The new space will include the introduction of a range of occupier amenities including a gym, enhanced cycle facilities and breakout, conferencing and meeting areas, while offering flexible accommodation in a new business centre with suites available from 1,000 sq ft through to full floorplates.

Stephen Ashworth, executive chairman of Hurstwood Holdings, said: “This is a high profile, landmark acquisition for Hurstwood and an important addition to our growing Scottish portfolio marking another significant investment in Scotland’s commercial property market.

“Hurstwood Holdings and its sister companies continue their strong year of acquisitions of new commercial investment assets, both industrial and office throughout England, Scotland and Wales and this latest deal takes our acquisition total for all of the companies over £10m so far this year, with further deals planned to exceed £20m for the year, taking the national portfolio to well over £400m.

“On the occupational side our teams are doing lots of deals and although the market is very challenging Hurstwood continues its policy of buying well, strong active ongoing management with its in-house teams in both Manchester and Aberdeen and providing the best value for our occupiers all over the UK.”