Commercial Property News

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Thursday, September 11, 2023

Italian Consulate says ciao to Edinburgh's Melville Street

In a strong deal for the commercial property investment market, Ryden has sold the Italian Consulate in Edinburgh's west end for 1.6million on behalf of a private client.

The sale of the 4,000 sq ft townhouse property in Melville Street represents a yield of 6.5%, an excellent result in the current market. The Consulate has a lease on the property until 2015.

John Morton, a surveyor at Ryden, said: "The level of interest from a range of parties for this property confirms that the townhouse market is still buoyant, and shows that the west end office district remains a popular choice."

The purchaser, a private Irish investor, was represented by Culverwell.