Scottish Widows headquarters building in Edinburgh has been sold for in excess of £105 million, the largest ever office transaction in Edinburgh.
The building in Edinburgh’s Exchange District, which has become a part of the famous Edinburgh skyline, has been sold to an overseas based private client of HSBC Private Bank.
It will remain the headquarters for Scottish Widows, who have occupied the property since 1997 and have arranged a new lease for a term of 25 years from the date of sale, subject to a tenant break option on the 15th anniversary.
Alasdair Humphery, Lead Director of Jones Lang LaSalle Scotland, who acted with CBRE on behalf of vendor Aberdeen Asset Management, said: “Edinburgh has long marketed itself as a destination for overseas investment, and this sale truly underlines the City’s credentials.
“The combination of Edinburgh as an investment prospect, a truly HQ office building and the long secure income resulted in significant interest from global investors and enabled the completion of a quick sale.”
Port Hamilton was constructed in 1997 and is one of Edinburgh’s largest single office buildings.