Drumsheugh Gardens townhouse sold for £900k
25 May 2011
On behalf of Otterston Properties, Ryden has sold 3 Drumsheugh Gardens, Edinburgh to a private purchaser (unrepresented) for £900,000.
The traditional B listed Victorian townhouse building extends to 598 sq m (6,350 sq ft) over lower ground, ground, mezzanine and three upper levels and has three car parking spaces to the rear. It was previously utilised as office premises, being multi-let to a number of tenants for many years. It is understood that the purchaser, a private development company, has applied for consent to convert the townhouse back into two residential units.
Charles Guest, partner at Ryden, commented: “The transaction demonstrates that there is demand from residentialdevelopment companies with funding to undertake development in the central New Town area of the city if the pricing is right”.
