Strathclyde Pension Fund has acquired a mixed-use property in Brighton for £17m, in an off-market transaction.
The asset comprises a mix of office and leisure accommodation totalling c42,500sq ft, situated close by Brighton’s seafront at the entrance to the City’s popular district ‘The Lanes’.
The income profile is split equally between office and leisure occupiers. The key office tenant is “ICrossing”, an industry leading digital marketing business, and part of the global “Hearst” Dynasty, whilst the property’s leisure provision comprises Jamie’s Italian, Pho and the Lucky Voice Karaoke bar.
DTZ acted on the deal.