HSBC client set to snap up Standard Life's HQ

摘要

A private overseas client Of HSBC has placed the 190,000 sq ft Edinburgh headquarters of Standard Life under offer for around £90m. The buyer is understood to be the same party that purchased Scottish Widows' headquarters at Port Hamilton in Edinburgh in November last year in a deal that at £107m remains the city's largest-ever office transaction. It emerged in September that Standard Life intended to sell and lease back its building at 30 Lothian Road and had appointed Cushman & Wakefield to market the property. The asking price of £91m reflected a yield of close to 5.25% and the office was expected to attract a lot of interest thanks to the strong covenant of the tenant.