The North Quarter comprises a recently refurbished Category C listed multi-let office and co-working space formed around an attractive former Baronial Mansion, ‘Wardieburn House’ built 1874 with connecting modern open plan east and west office wings.
The building provides contemporary workspace within a peaceful setting and sits on a rectangular site of approximately 0.79 acre with car parking for 50 cars including 3 EV chargers, secure cycle storage and external studio.
Building 1 (west wing) has it’s own dedicated entrance, lift and extends from ground to second floors. Every floor let to single tenants with dedicated toilet and kitchen facilities and connecting at each level to the original period building and modern east wing via a linking stairwell.
Building 2 (east wing) incorporating the historic period building, has a large attractive modern glazed entrance reception with lift access from ground to first floor. The ground floor of each being let to single tenants with the upper floor being multi let on a room by room basis. The first floor of the east wing recently undergoing a transformation from a single floorplate into flexible coworking space with 8 individual office suites, shared breakout/ kitchens and collaboration space, call booths, bookable meeting room and al fresco dining area.
The office accommodation extends to approximately 13,611 sqft with a further 1,220 sqft in ancillary space, and a GIA of approximately 20,076 sqft.
Location
North Quarter is situated in the north of the city on Ferry Road at its intersection with East Fettes Avenue.
The immediate vicinity has a mix of open spaces, residential, commercial and retailing uses with skyline views to Edinburgh Castle. The vibrant neighbourhood of Stockbridge is within easy walking distance and the city centre just a couple of miles away.
Ferry Road is a major artery for the city making North Quarter highly accessible – by car it is 5-10 minutes to the city centre, Leith and Barnton; and is well connected to several bus routes including the 8,16, 21 and 27. The Ferry Road cycle path is close by which links to Leith and Roseburn and directly accesses the city’s extensive cycle network.
To the south the property looks out towards open sporting fields that lead on to Inverleith Park – a 54 acre public park that is one of Edinburgh’s largest open green spaces; with a variety of recreational activities from lunch time walks or runs, to 3 football pitches, 4 rugby, a cricket square, pétanque area, children’s playground, tennis courts and boating pond. This leads across to the Royal Botanic Garden a further 72 acres of stunning landscaped park with 10,000 plants and free admission. This tranquillity sits alongside Stockbridge, considered one of the city’s most sought after neighbourhoods providing a range of independent shops, boutiques, restaurants and bars.
To the immediate west there is a Morrisons supermarket, Village Hotel (including leisure facilities) and Leonardo’s innovation Hub at Crewe Toll (an office and manufacturing complex of over 400,000 sqft). Food retailing is plentiful with Waitrose, Sainsbury’s, Lidl and M&S all within minutes drive. As too is Craigleith Retail Park, the city’s largest in town shopping park.
Other nearby leisure facilities to North Quarter include Westwoods Health Club situated in the grounds of Fettes College and The Grange Club offering cricket, hockey, tennis, squash and shortly also padel.
To the north and east lie Granton and Leith, two of the cities fastest growing residential areas with Leith being voted one of the world’s coolest neighbourhoods within a Time Out ranking. Diagonally opposite from NQ Artisan Real Estate have recently received planning permission to redevelop a site to create 525 Park View – a new 256 home neighbourhood. Other adjacent and sought after residential areas include Inverleith, Trinity and East Fettes making North Quarter ideally suited for accessibility by a wide workforce.
Accommodation
Ground Floor
Ainslie Suite - 1.973 sq ft
Fettes Suite - 982 sq ft
Trinity Suite - 2,921 sq ft
Back Office - 159 sq ft
First Floor
Inverleith Suite - 2,215 sq ft
Ferryfield Suite - 372 sq ft
Boswall Suite - 280 sq ft
Kinnear Suite - 181 sq ft
Botanic Suite - 75 sq ft
Goldenacre Suite - 584 sq ft
Castleview Suite - 379 sq ft
Rocheild Suite - 214 sq ft
Royston Suite - 185 sq ft
Newhaven Suite - 99 sq ft
Fraser Suite - 99 sq ft
Forth Suite - 184 sq ft
Craigleith Suite - 346 sq ft
Carrington Suite - 167 sq ft
Second Floor
Arboretum Suite - 2,196 sq ft
Total - 13,611 sq ft
Other
Studio - 293 sq ft
Other Ancillary - 927 sq ft
Total - 14,831 sq ft
Terms
Tenure - Freehold
Price - £3,100,000
Tenancy Schedule - See attached brochure for information
Specification
- North Quarter provides contemporary workspace within a peaceful setting while being in easy reach of the core city centre.
- The immediate surrounding area comprises large areas of open recreational space; some of the most sought after residential areas; a range of supermarkets; the city’s largest in-town retail park; the vibrant neighbourhood of Stockbridge; and all within easy reach of the West End.
- Net internal office area to 13,611 sqft plus additional ancillary providing a further 1,220 sqft. Gross Internal area of 20,076 sqft.
- 50 car parking spaces, within a self contained site of 0.79 acres, providing a ratio of 1 per 268 sqft. (additional street parking nearby). On a principal bus route, with adjacent access to the city’s cycle lane network.
- Varied size of office suites from 60 sqft to 2,900 sqft.
- Generous coffee break out areas, showers, EV-charging and secure bike storage.
- Vibrant sense of community from 17 occupiers, while 4 of those occupiers let 68% amount of the space and account for 54% of the net income.
- The setting, internal layout and presentation of the space allows smaller occupiers to operate from an established address they can grow within and medium sized occupiers a sense of presence and accessibility well suited to a varied workforce.
- Current net income £298,248 pa.
- Low average passing rent exclusive of cars on lease space of £16.26/sqft; all inclusive licence space on small suites averaging £46.28/sqft.
- Strong internal market with tenants growing, contracting and importantly staying within the building. Waiting list operational at times.
- Heritable interest.
- Offers in excess of £3.1m exclusive of VAT are sought for the Heritable Interest. Based on the current net income this shows a net initial yield of 9.04 % and capital rate of £209/sqft on a net plus ancillary basis (LBTT and purchasers cost of 6.42% adopted).
Specification varies across the building and from suite to suite but generally comprises:
- Modern LED, T5 strip and traditional light fitments
- Mixture of raised access flooring, perimeter trunking and wall mounted sockets
- Gas and Electric Central Heating
- 2 passenger lifts
- Showers
- Dedicated and communal toilet and kitchen facilities
- Secure cycle storage
- Studio
- 3 EV chargers
- 50 dedicated car parking spaces
- EPC B