Lismore Real Estate Advisors have advised Lothian Pension Fund on the acquisition of Hanover Buildings located at 66-84 Rose Street, Edinburgh.
Hanover Buildings occupies a prominent position on Rose Street in the heart of Edinburgh’s Old Town. The asset is anchored by a 145 bedroom Hub by Premier Inn and five retail and leisure units let to Lucy & Yak, William Hill, Cotswold, Assaggini and Veeno. The index linked lease accounts for approximately 70% of the scheme’s overall income.
Lothian Pension Fund acquired the asset from Oval Real Estate for a £23.4m reflecting a net initial yield of 5.66%.