Matrix Property Fund Management has sold three office blocks on Rosyth Europarc business park to the north of Edinburgh for £27m.

The property investment trust has sold the Innova Campus, consisting of Forsyth and Arrol Houses which total 21,000sq ft, and the 72,000 sq ft Dundas House, to Curo Rosyth Partnership, managed by Curo Property Funds, at a net initial yield of 5.91%.

The buildings are currently let to Forsyth Business Centres and The Bank of Scotland at between £12.70/sq ft and £13/sq ft – equivalent to £1.7m a year.


200 acres
The properties are next to Rosyth Waterfront, a planned £500m residential, retail, business and leisure development on 200 acres of land.

Kevin Crighton, director at Curo Property Funds, said the fund was hoping to enhance the value of the site and said the development of the second Forth Bridge should release potential in this asset.

Drivers Jonas Scotland acted on behalf of Matrix while Curo was advised by NB Real estate.

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