This project was also worked on by Fraser Littlejohn who is a Partner, specialising in Planning & Heritage.
Since 2001 Montagu Evans have provided planning, investment and agency advice to Quartermile.
The full planning history is positive with no refusals across the site. This complex masterplanning challenge was made significantly more straight forward by approaching it as a detailed masterplan, and now the site is largely complete; delivering a major new quarter in the centre of Edinburgh overcoming significant challenges with listed buildings, World Heritage Site and Conservation Area designations.
Montagu Evans advised Moorfield in the acquisition of Quartermile’s asset owning company from HBoS for c.£50m as a going concern/development project. We then advised Quartermile/Moorfield in the speculative forward funding of the next two phases of office development with M&G Real Estate for £81m, considered to be one of the largest speculative office funding deals in Scotland. We handled the sale of Quartermile 2 office to AFIAA for £23m and leased office space throughout the development, including 70,000 sq ft to Cirrus Logic, 58,000 sq ft to FanDuel, 65,000 sq ft to State Street Bank, 37,000 sq ft to Morton Fraser LLP, 48,000 sq ft to Maclay Murray & Spens, 37,000 sq ft to Skyscanner and 10,000 sq ft to Investec. As the hold period was coming to an end, we sold the underground car park to Q-Park for £4m and the remaining retail units across the estate for £4.5m, which enabled a very successful shareholder exit.