The National Trust for Scotland to relocate to Hermiston Quay
04 November 2009
Ryden, on behalf of the National Trust for Scotland, has sold the conservation charity’s administrative base in Edinburgh’s Charlotte Square and secured the lease of new premises at Hermiston Quay, West Edinburgh.
The six Charlotte Square properties, extending to 35,000 sq ft, have been sold at a price of £8.75 million to real estate investment company Fordell Estates Ltd. Dixon Heaney Kean Kennedy acted for Fordell Estates.
Jim Mullins of First Mercantile Partners LLP, speaking on behalf of Fordell Estates, said: “Wemyss House is a historic building and a centerpiece of Charlotte Square. We honour the legacy of Wemyss House and look forward to helping restore the vitality of Charlotte Square as the heart of Edinburgh’s New Town.”
This sale has enabled the National Trust for Scotland to lease the entire 30,411 sq ft three storey building at Hermiston Quay; becoming the first occupier for the property.
Ainslie McLennan of Henderson Global Investors, owners of Hermiston Quay, commented: “Our clients were attracted by the excellent covenant of the Trust and the opportunity to lease an entire building in one letting.”
Lesley Watt, Finance Director of the National Trust for Scotland said: “We are pleased with the new offices and will relocate from Charlotte Square to Hermiston Quay in 2010, once the fit-out works are completed. We can provide our staff and members a highly efficient administrative building with open plan floors. The financial deal struck with the owners will allow the Trust to make considerable revenue savings in the coming years.”
Charles Guest, Partner at Ryden who acted on behalf of the National Trust for Scotland in both deals, added: “The relocation to a modern open plan office will assist in the efficient operation of the Trust and will enable the fine Charlotte Square premises to be restored to smaller self–contained units in keeping with the original design of Robert Adam.”
Letting agents for Henderson were Eric Young & Co. Ryden’s Edinburgh office acted for the National Trust for Scotland.
