Edinburgh's Saltire Court up for sale

One of Edinburgh's most iconic office buildings has been put up for sale by its Middle Eastern owners with an asking price of offers over £69 million.

Saltire Court building in the heart of Edinburgh. Picture: TSPL

Saltire Court, which comprises some 200,000 square feet of Grade A space between the New Town and Exchange business districts, has come to the market after 23 years under the ownership of the Abu Dhabi Investment Authority.

The sovereign wealth fund paid £53.1m when it purchased the building from Scottish Metropolitan in 1993, but is now looking to shed its smaller investments in favour of assets valued at £200m or more.

Tenants at the Castle Terrace building include a number of professional firms such as lawyers Shoosmiths, fund manager Martin Currie and accountancy firms Deliotte and KPMG.

The sale is being handled by Cushman & Wakefield partner Steven Newlands, who is hopeful of concluding a deal within the next two months following strong early interest in the property.

Click here to ‘Like’ The Scotsman Business on Facebook