Bellisimo Deal as Italian Consulate Sold
09 September 2008
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.
