Lismore advise on £29.1m PBSA development funding at Gilmore Place, Edinburgh

Leading investment manager, Aberdeen Standard Investments (on behalf of UK Commercial Property Estates Holdings Ltd), has agreed to fund and acquire a 230 unit PBSA development on Gilmore Place, Edinburgh.

The scheme is being developed by S1 Developments and is due for practical completion in Summer 2022.

The funding commitment reflects a projected yield on purchase of 5.5% and demonstrates continuing institutional investor appetite for well-located PBSA schemes in Edinburgh.

Lismore Real Estate Advisors acted on behalf of Aberdeen Standard Investments.