Dublin-based investment fund Jaguar Capital has acquired a four-year-old office block in Edinburgh for £75 million (€111.24 million) in an off-market deal.
The Calton Square transaction confirms Jaguar's rapid advance since its first investment three years ago in Britain, where the value of its office holdings now exceed £340 million.
Jaguar is controlled by accountants John Burke and Liam Dowd and former Anglo Irish Bank executive Gerry Jennings.
While Anglo Irish financed the Calton Square deal, Jaguar is assembling a syndicate of private investors to take ownership of the office block. The initial yield on the investment is 5.42 per cent.
Jaguar's head of operations Dermot Maguire said the minimum investment was £100,000.
Established four years ago, the fund specialises in sourcing properties generally available only to institutional and larger corporate investors.
Calton Square is a 14,121sq m (152,000sq ft) Grade A building, let to fund manager Ballie Gifford and Pillar Projects, a unit of British Land. Pillar has sublet its parts of the building to Citigroup and Rockstar, a computer game company.
The Calton House deal is the biggest since Jaguar acquired the Thames Court building in London's Square Mile for £170 million in 2004. Three other office blocks it owns in London have a combined value of £97 million.
