This grade A listed property comprises 2 floors and an attic, operated as a guest house, with 9 bedrooms, and a manager’s residential suite. Most rooms benefit from en-suite WC’s. Some rooms also have separate private kitchenette space. All spaces have a common gas fired water based central heating system.
The unit is well decorated, and each space is served with digital locks suitable for “Air BnB”. Most units have the benefit of a 3.6m high ceiling.
The property is well suited for continued guesthouse use, however, residential conversion may also be possible subject to obtaining all necessary planning and listed building consents.
Location
Edinburgh is Scotland’s capital city hosting a resident population exceeding 500,000 and a regional population in excess of 1.6 million. Edinburgh has the strongest economy of any city in the UK outside London, and is the home to a number of financial institutions, as well as being named one of the world’s top 20 cities for wellbeing.
The city further benefits from having 4 universities, Napier, Heriot- Watt, Queen Margaret and Edinburgh University, educating in excess of 100,000 students from all across the world, providing the city with a highly skilled and educated workforce.
The city is steeped in heritage and history and benefits from high levels of tourists every year, particularly in the summer and winter months due to the Edinburgh International “Fringe” Festival and the Edinburgh Military Tattoo, Edinburgh’s Christmas Markets and the renowned Hogmanay celebrations.
SITUATION - The property is located on the west side of North Castle Street in Edinburgh’s city centre, boasting Castle views to the south and sweeping views of the Firth of the Forth to the north.
38 North Castle Street is only a short walk to the city’s main retail and commercial hub located on George Street and Princes Street, and roughly 10 minutes’ walk to the affluent area of Stockbridge. The central location benefits true city living with a wide range of restaurants, bars, cafés and bistros on your doorstep.
Located in the prestigious Georgian New Town, the property further benefits from its close proximity to many cultural attractions, namely The Scottish National Portrait Gallery, Scott Monument, The Scottish National Gallery and many Museums including the National Museum of Scotland.
Edinburgh’s primary rail link, Edinburgh Waverley, is 16 minutes’ walk from the property and is the second busiest train station in Scotland. The station sees just fewer than 28,000,000 passengers traveling through each year and provides regular trains connecting Scotland’s capital to the north and the south of the country.
Accommodation
We have measured the property in accordance with the RICS Code of Measuring Practice 6th Edition. From our measurements taken on site we estimate the subject’s extent to the following net internal areas:
NIA: 2,285 sq.ft
Terms
PURCHASE - We are seeking offers in the region of £XXX million for the property. Proof of funding will be required with offers received.
RATEABLE VALUE - According to the Scottish Assessors Association website the property has a current rateable value of £XXX per annum, meaning that any potential occupiers could benefit from 25% rates relief in line with the Small Business Bonus Scheme.
ENERGY PERFORMANCE CERTIFICATE - EPC available upon request.
LEGAL COSTS - Each party will be responsible for their own legal costs incurred in the transaction. Land and Buildings Transaction Tax is the responsibility of the incoming tenant in the normal manner.
VAT - All prices are quoted exclusive of VAT.
VIEWING - Strictly by appointment through the sole selling agents.
DATE OF ENTRY - Entry will be available on completion of legal formalities.
Specification
- Excellent guesthouse opportunity in the heart of Edinburgh
- Suitable for a variety of uses including residential development
- Views of Edinburgh Castle (front elevation)
- Exclusive access to private Queen Street Gardens
- Offers in the region of £XXX million