Former RBS offices bought by asset manager
Drummond House (pic: Terry Murden)
Former Royal Bank of Scotland offices at the Gyle in Edinburgh have been sold to Shelborn Asset Management.
London-based Shelborn has acquired Drummond House and The Younger building for an undisclosed price.
The deal lets the NHS continue its occupation of The Younger building until October as a Covid-19 vaccination centre.
The 18 acre site includes 332,256 sq ft of office space, along with extensive parking provision and further development opportunities.
The buildings are being acquired with vacant possession, offering opportunities to redevelop the space.
Brian Rabinowitz, director at Shelborn, said: “Drummond and Younger are an outstanding opportunity with huge potential – the supply line within the Edinburgh conurbation is low and the demand for space is growing.
“We believe that current market conditions will provide for strong occupier demand and great letting potential.”
Shelborn was represented by Ryden’s Edinburgh office, the NatWest Group was represented by James Thomson and Ollie Barron of Cushman and Wakefield.