Zara billionaire buys second Edinburgh office scheme – Daily Business

Pontegadea, the property investment firm owned by billionaire Zara founder Amancio Ortega, has acquired its second flagship Edinburgh office scheme.

Ortega’s firm is the new owner of Capital Square, a recently developed suite of offices behind the Edinburgh International Conference Centre, in a reported £75m deal.

The 122,000 sq ft of prime space in the heart of the business district is home to law firms Brodies and Pinsent Masons, who occupy 69,000 sq ft in total.

The deal follows Ortega’s reported £45m acquisition last summer of the nine-storey Mint Building in St Andrew Square, developed by the Chris Stewart Group.

Capital Square was built by BAM Properties, in partnership with Hermes Investment Management, in what was Edinburgh’s largest speculative office development, completed in 2020.

It has 166 parking spaces in a three-storey underground car park as well as 149 cycle spaces, 12 showers, drying areas and 120 lockers for cyclists and runners.