Melville Street

60 Melville Street, Edinburgh, EH3 7HF

Sector:

Office

Size:

7,641 sq.ft

Tenant(s):

Close Brothers Asset Management

Advisors:

Ryden (acquisition)
Redside Property Consultants (technical due diligence)
DCS (legal advice)

Acquired from:

Axios Systems (advised by Knight Frank)

598 Lanark Road, Juniper Green, Edinburgh EH14 5EN
60 Melville Street, Edinburgh

Investment Rational:

The speculative refurbishment undertaken by Bellair at 60 Melville Street highlights their dedication to providing top-tier office spaces in Edinburgh’s esteemed West End. This corner property, with its Georgian townhouse architecture and scenic views of St Mary’s Cathedral, presented an opportunity for transformation into premium office accommodations.

Bellair’s investment in enhancing the property not only increased its intrinsic value but also addressed the demand for modern, high-quality office spaces in Edinburgh’s bustling commercial scene. Their proactive approach to refurbishment demonstrates a keen understanding of market trends and the importance of meeting the expectations of discerning tenants.

The selection of the location by Close Brothers Asset Management to consolidate multiple offices across Edinburgh underscores the attractiveness of 60 Melville Street. Their early engagement facilitated the customisation of the property to suit their specific needs, setting a new benchmark for rental rates on Melville Street.

This successful collaboration between Bellair and Close Brothers Asset Management exemplifies the potential of strategic property development and tenant engagement in unlocking value in Edinburgh’s commercial real estate market.