£133m acquisition

Aegon offices acquired in one of year’s top deals

Office deal is one of biggest this year (pic: Terry Murden)

M&G, owner of the Edinburgh Gyle offices occupied by pensions and wealth management group Aegon, has sold the building to Hyundai Asset Management and Roebuck, Asset Management.

The £133.25 million deal, which had been forecast earlier this month, represents one of the biggest regional office deals this year.

The 247,500 sq ft property is let to Aegon for a further 17 years.

The 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.

Nick Rhodes, managing partner at Roebuck Asset Management, said: “1-3 Lochside Crescent represents an exceptional investment opportunity, secured against robust credit and providing annual rental inflation.

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