Waverley Gate is expected to get a new owner
One of Edinburgh’s A-listed office buildings is expected to change hands in an £85million deal with an investment firm.
Waverley Gate at the north east end of North Bridge adjacent to the Balmoral Hotel, is being targeted by Melford Capital which invests in prime city assets.
Energy consultancy Wood Mackenzie last year joined the roster of tenants which includes Amazon, Microsoft, the Scottish government, the NHS, global insurer Gallagher and software company Forrit. High street retailer H&M closed a call centre in the building at the end of 2004.
Property website Green Street News reports that the transaction would be one of the biggest in Scotland in many years.
Built in the Italian Renaissance style, the building dates back to 1865 and has been owned since 2022 by Kennedy Wilson which acquired it from investment manager PATRIZIA for £78m.
Waverley Gate formerly housed the General Post Office and has undergone a number of refurbishments, most recently in 2004. It currently provides 203,400 sq ft of space across eight floors.
It includes four landscaped roof gardens, shower facilities, a basement level gym occupied by The Gym Group, together with bicycle and car parking for 50 vehicles.
The sale is being handled by CBRE.
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