Edinburgh space in deal
REIT acquires three UK office properties
Vantage Point, Edinburgh: one of a trio of properties acquired
An office and industrial property-focused real estate investment trust has acquired three properties across the UK.
With the support of a £19 million facility from Royal Bank of Scotland’s Real Estate Finance team, Regional REIT has bought more than 197,000 sq. ft of floorspace.
It includes the 39,314 sq. ft. Vantage Point office accommodation in the Edinburgh Park business area.
The trust has also purchased the 58,897 sq. ft. Turnford Place office development in Cheshunt, and eight units within the 99,613 sq. ft. in Woking.
Stephen Inglis, chief executive of London & Scottish Investments, the asset manager of Regional REIT, said: “Since listing in 2015, Regional REIT has established a strong track record in the real estate market.
“These acquisitions will allow the REIT to further build on that momentum, and respond to the ongoing demand from the market for attractive space at good value for occupiers.
“Once again, we are grateful for Royal Bank of Scotland’s support, and for the way they executed the transaction with professionalism and at considerable pace.”
Jamie Drummond, relationship lead at Royal Bank of Scotland Real Estate Finance, said: “The strength of Regional REIT’s management team has allowed it to establish itself strongly in the UK real estate market.”