Scottish property group Knight Property has acquired the Atholl Exchange office building in the heart of Edinburgh’s Exchange District for an undisclosed amount.
The 9,934sqft asset, located on Canning Street, is a modern steel-framed corner office building arranged over basement, ground and four upper floors.
Current occupiers in the building include EYCO, Westerwood Development Company and Land Use Consultants, with the first and second floors presently available to let.
Knight Property said it intends to refurbish and reposition the building. The programme will involve upgrading the external frontage, common parts and atrium, alongside a full refurbishment of all vacant floors.
James Barrack Jnr, director of Knight Property, said: “Our plans include a comprehensive programme of refurbishment and upgrading works designed to enhance the quality, efficiency and overall occupier experience within the property.
“There continues to be strong demand for well-located, high-quality office accommodation in the sector under 5,000sqft in Edinburgh, particularly space that meets modern expectations around sustainability, flexibility and staff well-being. We look forward to delivering a refreshed building that will appeal to a broad range of occupiers while securing the long-term future of the asset.”
Angela Lowe, director at CBRE, said: “There remains strong occupier demand in Edinburgh for high-quality office accommodation that combines a central location with modern specification and strong sustainability credentials.
“The proposed upgrades will significantly enhance the space and create an attractive offering for a wide range of businesses seeking premium office accommodation in the city. We expect the refurbished floor to generate strong interest from occupiers looking for high-quality, ready-to-occupy space in a competitive market.”
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