Substantial New Town property presents solid investment opportunity

Building currently let by serviced office provider Citibase offers a guaranteed rental income for the next eight years 

A substantial Edinburgh townhouse set to come onto the commercial property market could offer a solid investment opportunity for the right buyer, says agent JLL.
The property at 1-3 Colme Street in the New Town is a Category A-listed Georgian townhouse in a prime location which presents a solid investment, according to the firm.
1-3 St Colme Street occupies a rare corner location within a UNESCO World Heritage Site and has a curved sandstone exterior, featuring a traditional flagpole.
Offers for the Georgian Townhouse, which is currently let to serviced accommodation firm Citibase Plc for the next eight years, are being sought over £2.67 million.
The office space is arranged over lower ground, ground and three upper levels within a traditional construction.
Colin Campbell, associate director at JLL in Scotland, said: “For buyers looking for a solid investment with an existing, well-performing tenant in place for the next eight years, 1-3 St Colme Street represents a magnificent opportunity at great value.
“There is also significant potential for future redevelopment beyond 2024 if the property was to become vacant.
“The Edinburgh development plan generally supports the conversion of traditional townhouse accommodation from non-residential back to housing, and in the past few years there have been a number of successful conversions nearby.”
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