DEVELOPERS behind the £60 million transformation of a warren of lanes around West Register Street have snapped up an office block at the foot of Calton Hill.
Chris Stewart Group (CSG) – which owns and manages property projects to the value of more than £125 million across the city centre – announced it has bought Blenheim House for £5m.
Boasting 35,000 sq ft of “Grade A” office accommodation over five floors, the site sits just around the corner from the Omni Centre and was previously owned by Belgate Estates.
It will now undergo a major refurbishment set to be completed in the autumn of 2017, before being marketed to businesses.
Company boss Chris Stewart 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 now 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.”
CSG is spearheading high-profile projects across the Capital, including the revamp of “Register Lanes” behind the east end of Princes Street – billed as Edinburgh’s answer to Covent Garden. The ambitious scheme will see a clutch of narrow lanes around West Register Street turned into a bustling hive of high-class shops, restaurants and businesses.
The company is also building a Courtyard Marriott hotel on Baxter’s Place at the top of Leith Walk, just around the corner from Blenheim House.
Offering 240 bedrooms, the hotel will be the second of its kind in Scotland and only the third in the UK, and consists of two buildings – a series of three interlinked, A listed Georgian townhouses and a 60,000 sq ft extension to the rear.
Last year, CSG’s radical revamp of Advocate’s Close in the Old Town was named Britain’s best development by the Royal Institution of Chartered Surveyors. Nine listed buildings covering 11 storeys between the Royal Mile and Market Street were transformed as part of the £45m overhaul.
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