ON behalf of John McGregor, one of Scotland’s leading independent property consultants, CKD Galbraith, has sold a townhouse property at 1 Hill Street, Edinburgh to Caledon Property Group.
The former offices of McGregor Chartered Surveyors, which extend to 2,369 sq ft over four floors, was acquired for £480,000, representing a net initial yield of 7.14 per cent.
Presiding over the north corner of Hill Street, where a number of other properties are currently on the market, the Georgian townhouse was sold with tenant Rutherford House in place.
The sale reflects a capital value of just over £200 per sq ft.
Developers and asset managers Caledon Property Group now operates from the townhouse.
Said Ian Forbes of marketing agent CKD Galbraith: “This is a high-quality, attractive townhouse investment in a prime location and we’re delighted to achieve the sale, particularly in light of current market conditions and the number of properties currently for sale on Hill Street.
“We’ve worked diligently with our client, the purchaser and the tenant to achieve a deal that satisfied all parties.”
Notes to editor
Picture caption: 1 Hill Street, Edinburgh EH2 3JP.
CKD Galbraith – www.ckdgalbraith.co.uk
CKD Galbraith is an independent property consultancy specialising in serving the needs of private clients. It employs over 180 people in offices in Edinburgh, Stirling, Perth, Cupar, Inverness, Aberfeldy, Castle Douglas, Ayr, Elgin, Galashiels, Kelso and Peebles.
The firm provides the full range of property consulting services across the commercial, residential and rural sectors throughout Scotland. The company enjoys a successful relationship with its associate firm in London, CKD Kennedy Macpherson.
CKD Galbraith’s commercial arm delivers partner-led commercial property intelligence across a range of services, including property and asset management, professional services, investment consultancy, sales, lettings and acquisitions, project co-ordination, facilities management and building surveying.
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