CKD Galbraith Sells Prime Edinburgh Townhouse Investment
On behalf of John McGregor, 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%.
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.
Ian Forbes of marketing agent CKD Galbraith said: “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.”