Acquisition of Scottish Gas HQ by Bank of London & The Middle East plc for £27m

Deal typeTransaction Services
IndustryReal Estate
Client nameBank of London & The Middle East plc

Bank of London & The Middle East plc, a UK Islamic bank, has acquired a Grade A office building at 1 Waterfront Avenue, Edinburgh, for approximately £27 million.

The sale follows the agreement of a new 16 year lease with Centrica, Scottish Gas’ parent company. The circa 94,100 sq ft building has served as the operational headquarters of Scottish Gas since 2003 where it employs around 1,800 people.

BDO provided financial and tax due diligence, tax structuring and SPA review services in support of the transaction.