Publications

Kennedy Wilson acquires Edinburgh office building for $106m
Transactions - FEBRUARY 4, 2022

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

Kennedy Wilson acquires Edinburgh office building for $106m

by Released

Kennedy Wilson has acquired Waverleygate, a wholly owned prime office building in Edinburgh, from real assets investment manager PATRIZIA for $106 million.

Waverleygate is one of the most prominent office buildings in the heart of Scotland’s capital city and is 97-percent occupied by national credit-worthy tenants, including Amazon, Microsoft, H&M, the Scottish government, and the National Health Service. With a class-A vacancy rate in Edinburgh City Centre of 2 percent, Kennedy Wilson will invest in the property to provide first class amenities and take advantage of the significant growth opportunity in the Edinburgh market.

Waverleygate, which now produces about $6 million of annual net operating income, underwent a significant renovation in 2004 that delivered about 203,400 square feet of modern open-plan office space across eight floors and retained the grade-A listed Italian Renaissance façade. The property’s ESG credentials now include an energy rating o

Forgot your username or password?