West Edinburgh Business Park Acquired
On behalf of its shareholders, CEG, has acquired The Stones Business Park in west Edinburgh, for an undisclosed sum. The Stones comprises three detached open plan office buildings set within a well-landscaped business park. Each building is self-contained over three storeys totalling almost 34,000 sq ft. The buildings offer flexible efficient space and can be split on a floor by floor basis with 11,800 sq ft floorplates, or sub-divided into individual suites. The buildings benefit from shower facilities, cycling facilities and an attractive car parking ratio.
The Cornerstone building is fully let to Blyth & Blyth and Instant Offices. The Broadstone and Forthstone Buildings are currently vacant. CEG will now manage the comprehensive refurbishment of these two buildings with work starting later this month.
The well-located park is situated adjacent to the city bypass and is within walking distance of three rail stations: Edinburgh Park, South Gyle and Edinburgh Gateway. The Stones also benefit from very close proximity to the Edinburgh Park tram stop which provides direct, regular trams to the airport and the city centre. The park further benefits from the retail and leisure offer at The Gyle shopping centre, which also serves as west Edinburgh’s main bus terminus.
Jenna McIntyre, Acquisitions Manager at CEG, said “In keeping with our strategy, this is a well-located value-add office investment in a major UK regional centre. Edinburgh is a very strong market, with high occupier interest and low availability. Our recent purchase of these buildings provides a great opportunity to undertake a comprehensive refurbishment of the two vacant buildings to offer contemporary offices in a prime location, benefitting from exceptional tram, rail, motorway and airport links.”
Montagu Evans represented CEG. EY&CO acted for the vendor.