COMMERCIAL property specialists Millfield Estates has acquired Edinburgh city centre property Venue Studios in a seven-figure (£2.75m) deal, taking its total property portfolio across the UK to 17.
Benefiting from striking views across the City, Millfield Estates seven-figure investment in the three upper floors of this superb building on Calton Road, marks their first property purchase north of the border.
A high quality multi-let office building, Venue Studios sits opposite Edinburgh Waverley Station, with the fourth floor benefiting from a large roof terrace, perfect for an entertainment and events space.
Grade A office accommodation which was comprehensively refurbished in 2008, the suites comprise 7,960 sq ft in total.
Millfield Estates will be working with award-winning architect firm John Thompson & Partners LLP (second), the largest exporters of Scottish salmon, Salmon Scotland Ltd (third) and PR & marketing firm The Big Partnership Group Ltd (fourth) at Venue Studios.
Paul Dobson, property director for Millfield Estates, added:
“Millfield Estates has forged a proud reputation in England and it has long been our ambition to expand into Scotland, with Edinburgh a particular target. After several near misses we are pleased to have secured this excellent opportunity.
“With Venue Studios on the doorstep of Waverley Station and in the heart of Edinburgh city centre, we have no doubt that our first Scottish acquisition will be incredibly beneficial both for ourselves and the tenants in the building.”
Millfield Estates were represented on this purchase by global real estate consultants Jones Lang LaSalle whilst Knight Frank acted for the vendor.
With more than three generations contributing to the Millfield Estates legacy, the company has built a sustainable portfolio of industrial estates, trade counter developments, offices and prime retail units spread throughout the UK, with Manchester, Liverpool, Cheshire, London and St Albans just five of its key areas.
To find out more about the Bolton-based Millfield Estates, please visit the website www.millfieldestates.com