FOR SALE - PRIME RESIDENTIAL REDEVELOPMENT OPPORTUNITY Three adjoining New Town townhouses with outstanding redevelopment potential

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1 FOR SALE - PRIME RESIDENTIAL REDEVELOPMENT OPPORTUNITY Three adjoining New Town townhouses with outstanding redevelopment potential RANDOLPH CRESCENT EDINBURGH, EH3 7TT

2 SUMMARY Prime New Town townhouses with outstanding redevelopment potential Superb location in the heart of the city Grade A listed stone built townhouses Gross Internal Area (GIA) of approximately 2,921 sq m (31,444 sq ft) Most recently occupied by the French Consulate and the the Institut Français d Ecosse Full vacant possession estimated at the end of December 2017 Private gardens to the rear Offers invited (to be sold as a single lot only) Guthrie Aerial Photography Red line for indicative and illustrative purposes only. Not to scale. 2

3 LOCATION Edinburgh Edinburgh is the capital city of Scotland and a political, financial, administrative and legal centre (it is the second largest financial centre in the UK after London). It is home to both the Scottish Parliament and the Scottish Government. The population of Edinburgh is approx. 500,000 while the population of the wider Edinburgh City Region stands at approx. 1.3m. (National Records of Scotland, 2014) Edinburgh offers a good quality of life with culture, heritage, open spaces, eight universities and colleges and first class schools. It also has an extensive integrated public transport system including the tram system which runs from Edinburgh City Centre to Edinburgh International Airport. The airport was the busiest in Scotland in 2016 with 12.4 million passengers passing through. The city is consistently ranked as one of the UK s most competitive large cities based on factors such as skills, productivity and qualifications. This has led to Edinburgh being voted the UK s best city for the 3rd year running by The Telegraph in LOCATION New Town Randolph Crescent is positioned in one of Edinburgh s most desirable residential areas in the western side of the New Town, neighbouring the West End, Stockbridge and Comely Bank. It is located within the New Town Conservation Area and the UNESCO World Heritage Site. The crescent is a prime example of Georgian architecture and within easy walking distance of George Street, Princes Street, Charlotte Square and Lothian Road; the commercial heart of the city. The location is convenient for both Waverley and Haymarket train stations, which provide regular services to Glasgow (approx. 45-minute journey), the Central Belt and the rest of the country. The area benefits from good arterial road links allowing easy access out of the city to Edinburgh International Airport and the surrounding motorway networks. The tram network provides also an efficient service to the airport from Princes Street and Atholl Crescent. In addition, there is an excellent bus service covering the whole city, with the nearest bus stop located on Drumsheugh Terrace. Nearby cultural facilities include the Usher Hall, Royal Lyceum Theatre, numerous art galleries, many restaurants, and the riverside walkway along the banks of the Water of Leith. The Galleries of Modern Art, Inverleith Park and the Royal Botanic Gardens are also within easy reach. 3

4 14 13 TRANSPORT Tram Stop 25. Dean Bridge 26. Waverley Station LEISURE/AMENITIES 1. Edinburgh Castle 5. Charlotte Square 8. Princes Street Gardens 9. Scottish National Gallery 10. The Royal Scottish Academy 14. The Meadows 17. Usher Hall Dean Village Princes Street 28. Moray Place 29. Dean Gardens 30. Water of Leith 21 BUSINESS/HOTEL 2. Waldorf Astoria Edinburgh 3. Exchange Crescent 4. EICC 7. The Principal Edinburgh - Charlotte Square 6. Tigerlilly 12. George Heriot s School 13. Quartermile Sheraton Hotel 16. Atria 18. Saltire Court 19. Clydesdale Bank Plaza 20. Exchange Tower Bute House West Register House 30 Guthrie Aerial Photography Red line for indicative and illustrative purposes only. Not to scale. 4

5 DESCRIPTION No s Randolph Crescent comprise three adjoining Grade A listed stone built townhouses situated to the west side of Edinburgh s New Town. The properties form a prime redevelopment opportunity which may include residential, senior assisted living, hotel and serviced apartments, subject to necessary planning consents. We have been advised that full vacant possession is expected in December Collectively, the properties extend to approximately 2,921 sq m (31,444 sq ft) Gross Internal Area. Most recently, Randolph Crescent provided both office and residential accommodation for the French Consulate and Institut Français d Ecosse. The properties benefit from private rear gardens which connect directly into Dean Gardens comprising nine acres of semi-woodland landscape on the banks of the Water of Leith. Internally, the townhouses contain original period cornicing, wooden floors and fireplaces. 5

6 PLANNING Any future redevelopment proposal for the townhouses will require a change of use consent issued by The City of Edinburgh Council. We are not aware of any current or historic planning applications relating to Randolph Crescent. Given the nature of the neighbouring area, it is our belief that the Planning Department should be generally supportive of a future change of use into residential or similar use, including hotel, assisted living or serviced apartments. However, please note that interested parties should make their own enquiries with the City of Edinburgh Council Planning Department which can be reached on An information pack containing the following information is available on the website: Measured Floor Plans EPC Asbestos Report 6

7 FURTHER DETAILS Energy Performance Certificate The EPC Rating for 11, 12 & 13 Randolph Crescent, Edinburgh is E. A copy of the Energy Performance Certificate can be downloaded from the website. Tenure Heritable (Scottish equivalent of English freehold). Rateable Value We have been verbally advised by The Lothian Valuation Joint Board Assessors that the properties have the following rateable values: Randolph Crescent: 92, Randolph Crescent: 66,600 The Unified Business Rate (UBR) for 2017/18 is for properties with a Rateable Value in excess of 51,000. For more information please contact Lothian Valuation Joint Board on or by enquiries@lothian-vjb.gov.uk. VAT We have been advised that the properties at Randolph Crescent are not elected for VAT and as such no VAT will be payable on the purchase price. Offers Our client is seeking offers for the heritable interest in all three townhouses on a subject to planning basis. Unconditional offers will also be considered. Legal Costs Each party will be responsible for their own legal costs incurred in any transaction. Contact Patrycja Wroblewska MRICS patrycja.wroblewska@rettie.co.uk Will Scarlett Scarlett Land and Development will@scarlettdev.co.uk Important Notice Rettie & Co. and Scarlett Land & Development, their clients and any joint agents give notice that: 1. They are not authorised to make or give any representations or warranties in relation to the property either in writing or by word of mouth. Any information given is entirely without responsibility on the part of the agents or the sellers. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. 2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive and it should not be assumed that the property remains as photographed. Any error, omission or mis-statement shall not annul the sale, or entitle any party to compensation or recourse to action at law. It should not be assumed that the property has all necessary planning, building regulation or other consents, including for its current use. Rettie & Co. have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise and ought to seek their own professional advice. 3. All descriptions or references to condition are given in good faith only. Whilst every endeavour is made to ensure accuracy, please check with us on any points of especial importance to you, especially if intending to travel some distance. No responsibility can be accepted for expenses incurred in inspecting properties which have been sold or withdrawn. Aerial Photography: Guthrie Aerial Photography Prepared: November 2017 Viewings Strictly by appointment only. Please contact the selling agents to arrange a viewing. 7

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