Thu, 10 Mar 2011 | BUSINESS SALE
The original home of The Scotsman newspaper has been put onto the market as a prime development site, with a price tag of around £1.6 million.
The historic five-storey building located in Anchor Close, off Cockburn Street in Edinburgh city centre, was home to the paper from 1860 to 1904, when it moved to new North Bridge offices.
Now, the council-owned, B-listed property has attracted much interest from developers keen to transform it into serviced holiday apartments. Thanks to its prime city centre location, other uses such as commercial offices, a restaurant or student accommodation could also be looked at.
The council's main aim of selling the property – through agents Jones Lang LaSalle – is to safeguard its future, as it currently needs a good deal of maintenance to be carried out. It is hoped that work can begin later this year under the new owners. Currently, the building's ground floor is leased by the Artists Collective Gallery, which is now trying to find a new home.
Councillor and Edinburgh economic development leader, Tom Buchanan, said, “This is part of an exercise to rationalise the council estate - raising significant capital receipts in the process.
“I am pleased that there has been a great deal of interest and am confident that the new occupier of the building will complement and add to the city centre's diverse offering,” he added.
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LEASEHOLD
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