Ediston Property Investment Company plc (LSE: EPIC) announces that it has let the entire office property at 145 Morrison Street, Edinburgh, to Capita Business Services Limited.
Capita has entered into a 15-year lease, without a break clause, for the recently-completed 26,894 sq. ft. office building in the centre of Edinburgh. The rent is £676,136 per annum, reflecting an overall rate of £25.14 per sq. ft. This building constituted the largest void in the Company’s portfolio.
145 Morrison Street is a Grade A office over ground and four upper floors. The property is located between the newly refurbished Haymarket Train Station, the EICC and heart of the Exchange District, one of Edinburgh’s key financial services locations.
Calum Bruce, Director of Investment at Ediston Properties Limited, the Company’s Investment Adviser, said: “Securing a firm of Capita’s stature is testament to the quality of the building and strength of the location. The asset was developed to be a headquarters building for a single occupier and it is satisfying to see that happen”.