Ryden Instructed to Sell 4 Scottish Executive Tribunal Buildings in Edinburgh
30th March 2006
The Scottish Executive has recently appointed Ryden to dispose of four townhouse buildings situated in the heart of Edinburgh's West End, a highly desirable office and residential location.The four buildings, 23 Melville Street, 1 Grosvenor Crescent, 44 Palmerston Place and 20 Walker Street, were formerly occupied by five Courts & Tribunals and it has been decided to relocate and accommodate all within a single, modern office building at 126 George Street, currently let to The Scottish Ministers. The relocation of the Tribunals has been something the Scottish Executive has been considering for some time. The opportunity to relocate to a single building offered the Scottish Executive the chance to use an existing lease liability, while at the same time offering a viable economic solution by bringing these organisations together. In addition, with recent new legislation, particularly the Disability Discrimination Act, the Scottish Executive needed to be seen as an organisation at the forefront offering ease of disabled access both for members of the public and staff.Allan Matthews, Associate at Ryden, instructed to market the buildings, commented: "Our recent experiences of townhouse sales in central Edinburgh have shown that the market for this type of product is still extremely strong. While the properties are currently used as office buildings, the locations would offer the potential for alternative uses, including residential redevelopment, subject to appropriate planning consents.”The buildings range in size from 265-650sq m (2,850-7,000 sq ft),
