Commercial property

This is a unique development opportunity of an early 19th-century Georgian building in Leith, Edinburgh, with full planning approval to convert into six serviced apartments. The approved plans include four two-bedroom apartments and two studio apartments. The property retains original period features such as a flagstone entrance floor, high ceilings, ornate cornicing, ceiling roses, and sash-and-case windows. The market for luxury serviced apartments in Edinburgh is experiencing strong growth due to booming tourism and stricter short-term rental regulations, with Edinburgh properties achieving high occupancy rates. The potential income per apartment is estimated at £380,000 per annum post-refurbishment, with an anticipated end value of £2.2 million. The property is located near the Port of Leith, home to the Royal Yacht Britannia, and is a short distance to Edinburgh Castle. Work has commenced, with the ground floor stripped out. A Colliers Market Value report is available. The property is situated within a controlled permit parking zone (N7).