Gatehouse Bank plc is pleased to announce that it has successfully concluded on behalf of investors the sale of 123 Fountainbridge in Edinburgh for £24.0m.
The property is a purpose built student accommodation asset with a total of 331 bedrooms, centrally located close to the University of Edinburgh, Herriot-Watt, Napier and Queen Margaret universities.
Charles Haresnape, CEO of Gatehouse Bank said:
“We are pleased to have reached a successful exit of 123 Fountainbridge, Edinburgh. Through Gatehouse Bank’s active asset management approach, the investment has delivered substantial returns to investors and further underlines our asset management capabilities and value-creation strategy. Over the three year hold, the active management of the property has resulted in an increase in net operating income year on year.”
Cushman & Wakefield and Shepherd and Wedderburn advised on the transaction.