CKD Galbraith has purchased 106-108 George Street, Edinburgh from Grovemoor Properties, on behalf of a private client. The properties were purchased for a combined price of £2.965m.
The property, set over three floors, is located in one the country’s prime business locations.
Coffee chain Starbucks currently occupies the ground floor and basement of the premises (106 George Street), and has recently extended its lease to 2021. The first floor (108 George Street), which extends to 1,998 sq ft, was most recently occupied as an office; however, alternative uses are currently being investigated by CKD Galbraith.
Ian Forbes, Associate Investment Agent at CKD Galbraith, said: “George Street is one of Scotland’s prime retail pitches together with being at the very centre of Edinburgh’s business and social district. Opportunities to purchase prime investments in this location are exceptionally rare, and as such we are delighted to secure this property for our client. We expect the investment to perform well.”
Richard Higgins, Partner at CKD Galbraith, added: “Our client is delighted to add to their current holdings on George Street. We have been targeting a prime George Street asset that fits well into our client’s wider portfolio while offering attractive long term asset management opportunities.”
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NOTES TO EDITORS
Photo caption: 106-108 George Street, Edinburgh
CKD Galbraith - www.ckdgalbraith.co.uk
CKD Galbraith is an independent property consultancy specialising in serving the needs of private clients. It employs over 200 people in offices in Edinburgh, Stirling, Perth, Cupar, Inverness, Aberfeldy, Castle Douglas, Ayr, Elgin, Galashiels, Kelso and Peebles.
The partnership provides the full range of property consulting services across the commercial, residential and rural sectors throughout Scotland. The company enjoys a successful relationship with its associate firm in London, CKD Kennedy Macpherson.
CKD Galbraith’s commercial arm delivers commercial property intelligence across a range of services, including Asset Management, Investment and Agency (Acquisition and Disposal), Development and Project Co-Ordination, Property and Facilities Management, Professional Services, Valuation, Rating, Planning and Building Surveying.