RBS puts former Edinburgh premises up for sale
RBS has appointed Cushman & Wakefield to sell its former offices and data centre at Dundas Street, Edinburgh.
The 5.89-acre site, called New Town North, is being touted as the largest Edinburgh city centre property sale in more than a decade.
It is the largest development site remaining in central Edinburgh, and is expected to appeal to the full spectrum of city centre uses, including residential, build-to-rent housing, hotels, offices and leisure.
RBS has appointed Cushman & Wakefield to sell its former offices and data centre at Dundas Street, Edinburgh.
The 5.89-acre site, called New Town North, is being touted as the largest Edinburgh city centre property sale in more than a decade.
It is the largest development site remaining in central Edinburgh, and is expected to appeal to the full spectrum of city centre uses, including residential, build-to-rent housing, hotels, offices and leisure.
A concept masterplan has been put together for more than 409,000 sq ft of development, with landscaping and pedestrian-friendly public spaces.
There is also more than 228,000 sq ft of existing offices and data centres available for refurbishment or reuse.
A spokesperson for RBS said: “We expect to attract global interest and have designed our marketing campaign to ensure the site attracts the consideration it merits.”
C&W said the site offers an opportunity to create a new quarter for the Scottish capital.
James Thomson, a partner at C&W, added: “Opportunities to complement a design icon are very rare. New Town North will be the natural extension of Edinburgh’s New Town, and a fantastic chance to create a premium development in the city centre. We are looking forward to seeing the market’s creativity at work.”
New Town North is adjacent to Edinburgh’s New Town, which dates from the 18th century, when it was first developed as part of architect James Craig’s vision and was the largest planned city development of its day.
It was granted UNESCO World Heritage Status in 1995 as a well-preserved example of Georgian town planning.
Historically, the New Town North land has hosted various uses, including a Victorian water theme park, a base for St Bernard’s Football Club and a greyhound race track.
In 1978, RBS commissioned its first building on the site, the office and data centre at 34 Fettes Row, with its final development on the site completed in 2009. It relocated its staff from the site last year to its purpose-built headquarters in Gogarburn.
[caption id="attachment_947873" align="aligncenter" width="847"] What the New Town North site could look like[/caption]
To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette
