The refurbished Edinburgh Castle, at the top of Symonds St and the start of Eden Terrace, has been sold after a tender opened in February. Bayleys agents have also sold a mixed-use (office, retail & residential) building round the corner at the start of Mt Eden Rd and a vacant Glendene warehouse.
Image shows: The Edinburgh Castle on the Newton Rd-Symonds St corner after a complete makeover, at the centre of a widening regeneration zone that spreads from city fringe Newton & Eden Terrace and heads west along both New North & Great North Rds.
215 Symonds St:
Features: 571m2 site on corner of Newton Rd, 150-year-old recently refurbished Edinburgh Castle Hotel, 724m2 2-level building with new 10-year lease to food & beverage and residential accommodation business
Rent: $230,000/year net + gst
Outcome: sold for $3.9 million at a 5.9% yield
Agents: Alan Haydock & Damien Bullick
15-19 Mt Eden Rd:
Features: 455m² site in Grammar zone, 452m² 2-level building with 2 ground-floor retail tenants & residential tenancy above, 7 onsite parking spaces to the rear
Rent: $181,220 /year net + gst
Outcome: sold for $3.3 million at a 5.49% yield
Agent: Phil Haydock
4 Bancroft Crescent:
Features: 2187m2 site, 887m2 industrial building – warehousing 800m2, office 87m2, 10 parking spaces
Outcome: sold with vacant possession for $1.55 million
Agents: Bill Lissington & James Hill
Attribution: Agency release.