Mint Building off St Andrew Square for sale at £41m

Mint Building

The sale of the Mint Building just off St Andrew Square in Edinburgh has been launched by Lismore Real Estate Advisors on behalf of Hines.

Offers of more than £41 million are being sought.

“This is an extremely rare opportunity to acquire a trophy multi-let office and leisure investment in the heart of Edinburgh’s most prized location,” said Lismore.

“The building is let to excellent tenants for over 10 years with an immediate reversion.

“The Mint Building is a newly-developed and future-proofed building with exceptional ESG credentials, extending to 70,467 sq.ft over 9 levels.

“The passing rent levels are highly reversionary, with immediate performance available to a purchaser through rent reviews across all tenancies within the next 6 months.

“Edinburgh offers a compelling investment case, with continuing strong rental growth against a backdrop of low availability of both existing stock and new development.

“Offers sought in excess of £41,000,000, reflecting a NIY of 6.0% and reversionary yield of 7.3%. An SPV purchase is also available increasing the NIY to 6.3% and reversionary yield to 7.7%.”