Aviva Investors Property Trust completes Edinburgh acquisition
The Aviva Investors Property Trust has completed the purchase of 22 Haymarket Yards, a regional office property located in Edinburgh.
The property, home to Tesco Personal Finance, is situated a few hundred metres from the Haymarket rail station which is currently the site of a transport redevelopment project forming part of the Haymarket Interchange.
The area on the west side of Edinburgh is now undergoing improvements, including an upgrade of office stock and improved retail and leisure facilities. This area of the city will also provide improved transport links with Glasgow.
Philip Nell, manager of the Aviva Investors Property Trust, says: “22 Haymarket Yards is single let to a top covenant with real prospects for rental growth following the upgrade of the transport hub. We believe the purchase of this property complements the fund’s existing portfolio of assets and illustrates our view that the improving economic climate has created a cyclical opportunity for investors to benefit from the recovery in occupier demand and expected outperformance of the regional office sector over the medium term.”
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