A FLAT in one of the Capital’s most prestigious addresses has attracted potential buyers from across the globe after going on the market for £1.1 million.
The four-bedroom property in Ramsay Garden, located beside the Edinburgh Castle Esplanade, boasts stunning panoramic views of Princes Street Gardens and the New Town.
The iconic location may come with its drawbacks, however, with the nightly Tattoo fireworks making it a noisy neighbourhood each August.
But estate agent Knight Frank, which is handling the sale, said that the flat could be rented out during the Festival for £3000 if the buyer does not “enjoy the sounds of bagpipes for a month every year”.
A number of wealthy expats are among those who have expressed interest in purchasing the second-floor flat, although a rush of viewings is expected nearer Christmas as potential buyers return for the holidays.
Matthew Munro, from Knight Frank, said: “It’s quite rare for one of these properties to come on to the market. This one is owned by a client who lives outside of Edinburgh, but uses it as a base when he’s in town.
“It’s been fully refurbished, a project which took ten months, and left it very well appointed. It has views which are exemplary.
“The owner previously let it out to a corporate client whose employees used it as their base a few days a month when they were in the north of England, Scotland or Scandinavia for business.”
The 224 square metre flat has three double bedrooms, all with en suite bathrooms or shower rooms, along with an additional fourth bedroom or study. The interconnecting living and dining rooms look out across the city towards the Firth of Forth.
Mr Munro said: “The property has been on the market for six weeks and the interest from buyers has been global. People from around the world are aware of Ramsay Garden and its status as one of Edinburgh’s most desirable addresses, especially amongst expats who may be looking at moving back to Edinburgh.
“The difficulty for us is that they have to come to Edinburgh to view the property and they are usually very busy people. But many potential buyers may come back for a month around Christmas. We would expect interest to pick up further from November onwards.”
Mr Munro said that the firm believed the flat’s proximity to the Castle was among the leading selling points, with the noise from the Tattoo and other Festival events unlikely to deter buyers.
He added: “It’s right beside the Esplanade, which is obviously a centre for tourist footfall during August, then there’s the fireworks at night. But once you’re ensconced in this beautiful flat you forget about everything else.
“They could also rent it out during the Festival although the rental value at £3000 a month is not terribly strong compared to the capital value.”
The Ramsay Garden buildings are a mixture of Scottish baronial and English cottage styles with distinctive red sandstone and whitewash.