Lismore Real Estate Advisors have advised Columbia Threadneedle on the acquisition of 125 George Street, Edinburgh on behalf of it’s Aegon UK Property Fund, from Lothbury IM.
The property comprises a 33 room boutique hotel situated on one of Edinburgh’s most renowned streets, let to Belhaven Brewery Company Limited (sub-let to Montpeliers (Edinburgh) Limited) trading as Tigerlily, at a rent of £750,750 pa for a further 7 years with an option to extend for a further 25 years at expiry.
The price of £11.25m reflects a net initial yield of 6.25%.
