finance

NatWest sells Drummond House and The Younger building



Shelborn Asset Management has bought Drummond House and The Younger building in Edinburgh from NatWest Group.

The deal, for an undisclosed price, also lets the NHS extend its occupation of The Younger building until October for the Covid-19 vaccination centre.

The freehold comprises a site of 18 acres with 332,256 sq ft of office space, along with extensive parking provision and further development opportunities.

Drummond House and The Younger building will be acquired with vacant possession, offering opportunities to redevelop and market the space.

Brian Rabinowitz, director at Shelborn, said: “Drummond and Younger are an outstanding opportunity with huge potential – the supply line within the Edinburgh conurbation is low and the demand for space is growing.

“We believe that current market conditions will provide for strong occupier demand and great letting potential.”

Shelborn was represented by Ryden’s Edinburgh office, the NatWest Group was represented by James Thomson and Ollie Barron of Cushman and Wakefield.

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