Hines Pan-European Core Fund, one of Hines’ flagship funds, has completed the acquisition of 20 West Register Street (formerly the Mint Building), a prime 60,000-square-foot office scheme in the heart of Edinburgh.
Hines agreed the forward purchase of the building from Edinburgh-based property development and investment company, Chris Stewart Group, in June 2018 in an off-market transaction.
20 West Register Street, located on St. Andrew Square in the city’s vibrant and rapidly evolving East End district, is already pre-let on a 15-year lease to investment management firm, Baillie Gifford.
The Hoskins Architects-designed building provides Grade A office space across seven levels, with the upper floors offering panoramic views of the city. The ground floor comprises three retail units, which have been let to modern Chinese cuisine Tattu, the expanding pizzeria concept, Franco Manca and building society, Nationwide.
Hines is currently active in the office, retail, student housing and logistics sectors, managing a combined UK property portfolio worth more than £2bn and located in London and key regional cities.
Source : Company