£5m investment in Blenheim House
Chris Stewart buys former Scot Equitable offices
Blenheim House, in the shadow of Calton Hill, will be modernised and upgraded to provide 35,000 sq ft of Grade A office accommodation over five floors.
It was acquired from Belgate Estates and was originally built for Scottish Equitable and then occupied by BNYM.
The property will now undergo a major refurbishment for completion in the autumn of 2017 and will be marketed for a single occupancy or multi-let.
Chris Stewart’s company owns and manages ongoing real estate developments to the value of more than £125m in Edinburgh city centre, including nearby Baxter’s Place, which is being developed for the first Courtyard by Marriott hotel in the capital. Blenheim House sits to the rear Baxter’s Place.
The group is also involved in The Registers regeneration project on the south east corner of St Andrew Square and was responsible for the redevelopment of Advocate’s Close in the Old Town.
Speaking about Blenheim House Chris Stewart (right) said: “This is a fantastic building in an equally fantastic location. It simply needs some investment to ensure it meets the technology standards and quality expectations of Edinburgh businesses.
“The plan is to upgrade the offices for occupancy from early 2017 and we are confident that there will be a lot of interest.
“There is strong demand for high quality office accommodation in Edinburgh and with the developments happening in the east end of Edinburgh’s city centre, this building will add to the overall regeneration being seen around the St James Quarter, Baxter’s Place and Calton Hill.”
CuthbertWhite and JLL have been appointed as agents.