Edinburgh offices sold for residential conversion

Drumsheugh Gardens townhouse acquired by private purchaser for £900k

Article posted: 27 May 2011

On behalf of Otterston Properties, Ryden has sold offices in Edinburgh at 3 Drumsheugh Gardens to a private purchaser for £900,000.

The traditional B listed Victorian townhouse building extends to 6,350 sq ft over lower ground, ground, mezzanine and three upper levels and has three car parking spaces to the rear. It was previously utilised as office premises, being multi-let to a number of tenants for many years.

It is understood that the purchaser, a private development company, has applied for consent to convert the townhouse back into two residential units.

Charles Guest, partner at Ryden, commented: “The transaction demonstrates that there is demand from residential development companies with funding to undertake development in the central New Town area of the city if the pricing is right.”

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Posted by Sam