Friday, August 31, 2023
SIRCO acquires State Street building in Edinburgh for £36m
SIREO Immobilienfonds No.4 SICAV has made its first purchase in Scotland. The Luxembourg Fund has recently acquired 525 Ferry Road in Edinburgh for £36 million from Henderson Global Investors clients the Warburg Henderson Pan Europa Funds No 1.
The building extends to 10,140 sq m (109,153 ft sq) and is let to The World Markets Company guaranteed by State Street Bank until 2018 with a break in 2013.
Dirk Schwindling, Investment Manager at SIREO commented: "This acquisition fits well with our strategy of buying high quality buildings let to undoubted covenants in strong UK office centres."
Andrew Creighton of Henderson Global Investors was delighted with the transaction stating that: "This investment has performed very well for the fund and allows it to consider other asset management opportunities in the UK higher up the risk curve which will enhance returns."
King Sturge advised SIREO, while Jones Lang LaSalle represented Henderson Global Investors.
The building extends to 10,140 sq m (109,153 ft sq) and is let to The World Markets Company guaranteed by State Street Bank until 2018 with a break in 2013.
Dirk Schwindling, Investment Manager at SIREO commented: "This acquisition fits well with our strategy of buying high quality buildings let to undoubted covenants in strong UK office centres."
Andrew Creighton of Henderson Global Investors was delighted with the transaction stating that: "This investment has performed very well for the fund and allows it to consider other asset management opportunities in the UK higher up the risk curve which will enhance returns."
King Sturge advised SIREO, while Jones Lang LaSalle represented Henderson Global Investors.
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