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Big property deals offer Capital hopes of recovery

posted 10 Sep 2009, 05:00 by David Rintoul   [ updated 31 Oct 2009, 08:19 ]

Two major property deals worth more than £100 million in total were today hailed as further signs of the green shoots of recovery in Edinburgh.

Scottish Widows Investment Partnership (SWIP), one of Scotland's biggest fund managers, is understood to be on the verge of buying Hermiston Gait retail park.

The Edinburgh-based investor, Scotland's second largest investment firm behind Aberdeen Asset Management, is ironing out the final legal points of a £60m deal to buy the park.

If the deal goes through it will be the biggest new investment in the city so far this year, and comes on the back of news that international investment firm Invesco Real Estate has purchased New Uberior House and Princes Exchange, the imposing office buildings in Tollcross, for £55m.

Continued...

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