New owner for Midlothian science park

Bush House within the Edinburgh Technopole
Bush House within the Edinburgh Technopole

A US investment manager has bought a portfolio of science parks, including the Edinburgh Technopole, in a deal worth almost £95 million.

Angelo Gordon has purchased the five sites from the Mars Pension Fund with joint-venture partner Trinity Investment Management.

Contracts were exchanged during the Christmas period and the sale is expected to be completed in the coming weeks.

The newly-formed partnership will look to capitalise on the growth in the UK science and technology park sector, which has been led by a surge in the number of start-up businesses emanating from that field.

“Science and innovation remains a key growth driver within the UK economy where we see strong occupational demand continuing,” Richard O’Boyle, executive director at Trinity, said.

“We look forward to working with all stakeholders, including existing and potential occupiers, as we explore ways to elevate the parks on a national and international level.”