Gatehouse Bank concludes the sale of Fountainbridge
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.