Friday, March 07, 2024
Edinburgh's Sovereign House bought for £3.75m
Sovereign House in Edinburgh's city centre has been snapped up for £3.75 million, announced Jones Lang LaSalle. GSS Developments (Aberdeen) Ltd has purchased the building in Young Street from Prudential Assurance Company Ltd.
The 12,787 square foot building will undergo a comprehensive refurbishment to take advantage of the rising demand for quality open plan office space in the heart of the Capital.
Neil Tweedie, senior surveyor with Jones Lang LaSalle, which along with Savills acted for GSS Developments (Aberdeen.) Ltd, said: "Sovereign House provides good open plan floor plates of under 5,000 square feet with an excellent on site car parking ratio for a city centre office. With the increasing shortage of high quality open plan office suites under 5,000 square feet within the core city centre, Sovereign House will undoubtedly attract good interest once the comprehensive refurbishment is complete."
McGrigors' Aberdeen office provided legal advice for GSS Developments.
The 12,787 square foot building will undergo a comprehensive refurbishment to take advantage of the rising demand for quality open plan office space in the heart of the Capital.
Neil Tweedie, senior surveyor with Jones Lang LaSalle, which along with Savills acted for GSS Developments (Aberdeen.) Ltd, said: "Sovereign House provides good open plan floor plates of under 5,000 square feet with an excellent on site car parking ratio for a city centre office. With the increasing shortage of high quality open plan office suites under 5,000 square feet within the core city centre, Sovereign House will undoubtedly attract good interest once the comprehensive refurbishment is complete."
McGrigors' Aberdeen office provided legal advice for GSS Developments.
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