The disposal of some key elements of the HBOS property empire in Scotland has started with a total of nine of them now on the market.
The latest trio in Edinburgh is already attracting interest but raising the necessary finance is proving to be a key issue (maybe a bank can help?).
The latest three, as well as the others, have been put on the market by Jones Lang LaSalle, which has been retained by the bank to look at its retail holdings UK-wide, and the latest in Edinburgh city centre are:
· 1 Castle Terrace – a prominent 7,701 sq ft retail unit in the heart of the Exchange District, with change of use potential for a bar or restaurant, subject to planning.
· 7 – 9 North Bank Street – a 6,415 sq ft retail unit in Edinburgh’s historic Old Town, overlooking Princes Street Gardens, with mixed use development potential
· 32A Chambers Street – a 7,306 sq ft retail unit in a prime location with redevelopment or Class 3 potential subject to planning
Simon Bashford of the retail division at Jones Lang LaSalle said: “These three retail units are prominently located in key sites across the heart of the city centre and offer excellent opportunities for new occupiers.
“We are at the moment disposing nine HBOS properties – five in Edinburgh, two in Glasgow – including a prominent one in Buchanan Street – and one each in East Kilbride and Cumbernauld.”
