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17/09/2015

Council Plans To Sell Office Development

An award-winning office development in Edinburgh has been put up for sale.

Atria Edinburgh, one of the most sustainable developments in the city, has been placed on the market by the council.

JLL and Montagu Evans have been appointed as selling agents.

Atria Edinburgh was completed in 2013.

It was developed and funded by the council, with part-funding from Scottish Enterprise.

Split between two buildings (Atria One and Atria Two), the site comprises almost 200,000 sq ft of Grade A office and retail accommodation.

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Both buildings have achieved a BREEAM 'Excellent' and EPC B+ rating.

It also contains green sedum roofs, low E glass glazing, energy efficient lifts, electric car charging spaces and an abundance of cycle spaces.

Councillor Frank Ross said: "Atria Edinburgh is an extremely successful development for the city. It was originally built to cross-subsidise the cost of an expansion to the Edinburgh International Conference Centre (EICC) to ensure it continues to compete on an international stage.

"Based on the economic conditions being right to achieve the best possible return for our investment, the Council is putting Atria up for sale."

Colin Finlayson, director at JLL, added: "The sale of Atria represents a rare opportunity to purchase a best-in-class development and it comes at a time when investor demand is strong from both the UK and overseas.  We are confident we will be able to generate significant interest."

(LM/CD)

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