A real estate agent claims that the sale of former council offices in Edinburgh is a "genuinely world class" opportunity for commercial development.
The sale of some former council offices in Edinburgh represents a highly profitable acquisition for a
property investment firm, it is claimed.
According to real estate agent Jones Lang LaSalle, the "unique
commercial development site" on Market Street and Cockburn Street is a genuinely world class piece of commercial property.
The value of the asset is increased by the fact that it is adjacent to Waverley train station, which has 16 million passengers pass through it each year.
Alan Creevy who is handling the sale for the agent, added: "Within ten minutes walk are St Giles Cathedral, Scottish Parliament, the National Gallery and other galleries, Princes Street and Edinburgh Castle, Scotland's busiest tourist attraction."
Stretching 120,000 sq ft of space over seven buildings, the site has potential for a vraiety of difficent commmercial development plans and is on the market for £7.5 million.
Last week, rival agent CB Richard Ellis suggested that Scottish commercial property still provided "good security", even as value growth rates begin to slow.
Posted by Pete White
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