An Edinburgh business park has changed hands in a deal worth £28 million.
Broadway Park, which is home to Heineken International’s UK headquarters and Aberdeen Standard Investments, has been purchased by Glasgow-based asset manager Ambassador Real Estate, part of the Ambassador Group.
The estate in the capital’s South Gyle business district comprises four modern office pavilions extending to a total of more than 147,000 square feet.
Previous owner Oval Real Estate was advised by CBRE during the transaction, while Ambassador took advice from Savills and was represented by PMP, Brodies and DWF.
Chris Richardson, investment director at Ambassador Group, said: “We are extremely pleased at Ambassador to get this deal completed, especially when there is a lack of good stock when the market is especially buoyant from an occupier and growth perspective.
"It is a great addition to our portfolio of assets in Scotland adding four quality office buildings in a prime Edinburgh location where there is so much activity. We look forward to working with the tenants to make sure they have available to them the best possible space and occupier experience at Broadway Park.”
Nick Prior, co-founder of Oval Real Estate, added: “We are pleased to sell following a repositioning of the asset to bring Aberdeen Standard [Investments] to the park on a long-term lease.”