Commercial Property News

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Tuesday, March 18, 2024

Prudential concludes sale of Pentland House in Edinburgh

King Sturge has recently concluding the sale of Pentland House in Edinburgh on behalf of Prudential Property Investment Managers to Camlin Investments Ltd. The purchase price of 14.87 million reflects a net initial yield of 7%.

Pentland House is situated west of central Edinburgh, on Robbs Loan, which is between Gorgie Road and Slateford Road. It is a detached office building, developed in 1972 and designed in an 'H' formation with the central portion being six storeys, with five levels over the two wings.

The building extends to 92,148 sq ft on a site area of 2.338 acres (0.946 hectares) and has car parking for 180 vehicles. It is let entirely to the Scottish Ministers (Department of Rural Affairs and Scottish Fishing Protection Agency) with more than ten years remaining on an unexpired lease. The passing rental is 1,100,000 per annum (11.97 per sq ft).

King Sturge represented Prudential Property Investment Managers, whilst DTZ acted for Camlin Investments Ltd.