5 World heritage site townhouses up for sale for Â£5.6 million
It is one of the finest squares in Europe and boasts Bute House '“ official residence of the First Minister -'“among its many fine buildings.
Now developers with a spare £5 million burning a hole in their pocket could enjoy a taste of the prestigious address after a swathe of prime real estate in Charlotte Square has come on the market.
The rare opportunity to buy not one but five A-listed Georgian townhouses in the heart of the New Town Unesco World Heritage Site arose when the present owner’s businesses went into liquidation earlier this year.
Numbers 41 to 45 are up for grabs after 41 Charlotte Square Limited and Charlotte Square Properties LLP went into administration on 4 May and 27 April respectively.
Property firm Savills is looking to sell five townhouses as a single lot for more than £5.6m or individually for at least £1.1m.
Director Keith Dobson said: “You don’t often get an opportunity to buy five buildings on one of the finest squares in Europe.
“These are prime offices in a great location. This is a unique square and a fantastic buying opportunity.
“They have been on the market for a fortnight and there has been a strong expression of interest both nationally and internationally.”
Savills has described the buildings as “100 per cent prime location” in a vibrant area with a mix of offices, shops, restaurants and homes.
It adds: “Central staircases provide flexible accommodation for single occupiers as well as the capability to easily sub-divide. The bright west facing accommodation has fabulous views of Charlotte Square Gardens to the front.”
The townhouses are now home to several businesses paying up to £95,000 in rent a year – though each firm has its own lease agreement in place.
Mr Dobson added: “Two of the buildings are vacant which would allow the [new] owner to go in and refurbish it for offices. They could be purchased by a property developer or investor and refurbished and brought up to a more modern condition.
“The others are being sold with the benefit of the leases in place so more attractive to investors looking at getting a return on their investment because they would be buying an income stream.”
Initially dubbed St George’s Square, it was renamed in 1786 after King George III’s Queen and first daughter, to avoid confusion with George Square in the south of the city.
The square was designed by Robert Adam who died in 1792 just as building began.