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Commercial Property News
Edinburgh commercial property put on the market
A 217,000 sq ft commercial property in Edinburgh city centre has been put up for sale.
Waverley Gate is now on the market at the request of administrator BDO Stoy Hayward after Castlemore, the development firm that renovated the building, went under last year, Property Week reports.
The NHS moved into 40,000 sq ft of the business property last month and H&M, the fashion retailer, is said to be considering taking 16,500 sq ft of the building in order to house a call centre.
In addition, cultural agency Creative Scotland is in discussions regarding occupying 20,000 sq ft.
BDO expects to get around £30 million for the site, which, prior to Castlemore's collapse, set a record rent for Edinburgh in 2008, when Microsoft paid up to £31 per sq ft for 13,000 sq ft.
CB Richard Ellis is one of the firms acting on behalf of BDO.
It recently appointed Jonathan De Mello as the head of its UK retail team.
Waverley Gate is now on the market at the request of administrator BDO Stoy Hayward after Castlemore, the development firm that renovated the building, went under last year, Property Week reports.
The NHS moved into 40,000 sq ft of the business property last month and H&M, the fashion retailer, is said to be considering taking 16,500 sq ft of the building in order to house a call centre.
In addition, cultural agency Creative Scotland is in discussions regarding occupying 20,000 sq ft.
BDO expects to get around £30 million for the site, which, prior to Castlemore's collapse, set a record rent for Edinburgh in 2008, when Microsoft paid up to £31 per sq ft for 13,000 sq ft.
CB Richard Ellis is one of the firms acting on behalf of BDO.
It recently appointed Jonathan De Mello as the head of its UK retail team.
Fri, 26th Mar 2010