A SCOTTISH business park has changed hands in a deal worth around £15 million.
Seven Hills Business Park in Sighthill, to the west of Edinburgh, has been sold to UBS Asset Management’s (UBS-AM) Triton Property Fund LP.
Seven Hills was previously owned by Peveril Securities in a joint venture with Citivale.
Construction worked started recently on 76,000 sq ft of industrial and trade space at the site due for completion in Autumn this year.
The 5.5-acre Seven Hills is already home to Napier University and Amazon sites.
Chris Kirkland of Peveril Securities said: “The sale to Triton illustrates both the confidence in the industrial market in Edinburgh and the excellent location of Seven Hills to deliver against the significant shortage of high quality new build industrial space.
“Seven Hills enjoys an enviable location with excellent road, train and tram links, as well as being in close proximity to Edinburgh Airport.
“We will be working closely with UBS-AM as we complete construction of the new units and have been encouraged by the interest shown to date by potential occupiers.”
Jonathan Hollick, portfolio manager of UBS-AM’s Triton fund, said: “Edinburgh’s industrial market remains characterised by a lack of supply, making the development aspect of this investment particularly attractive.”
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