Acting on behalf of City and Pacific Ltd, Ryden has successfully let two whole townhouses to single tenants located in Edinburgh City Centre, following a comprehensive refurbishment of both properties. 45 Charlotte Square has been let to BennBridge, while Gilson Gray LLP has taken over 6 Rutland Square.
45 Charlotte Square comprises a refurbished Category A listed townhouse part of the Charlotte Square design by Robert Adam in 1791 and completed in 1820. Multi-boutique investment firm BennBridge has taken the 4,716 sq ft premises on FRI terms with a 10 year lease at a rental of £150,000 per annum.
BennBridge, with offices in London and New York, partners with specialist fund managers to provide investment solutions to a variety of investors. It is a 100%-owned subsidiary of the Bennelong Funds Management Group with approximately £6bn of assets under management.
The 3,641 sq ft townhouse at 6 Rutland Square has been let to law firm Gilson Gray LLP at a rent of £90,000 per annum on a 15 year lease with five yearly breaks. The property is a traditional Category A listed sandstone tenement building arranged over five storeys which was also extensively refurbished.
This move has dramatically increased the law firm’s total office space in Edinburgh to over 13 storeys, and its overall office footprint to 21,000 sq ft, following substantial expansion and continued growth ambitions.
Gilson Gray is now the largest occupying tenant on Rutland Square, a prestigious office address within central Edinburgh which is home to other high profile occupiers such as International Embassies, Private Banks and DLA Piper.
Peter I’Anson of Ryden commented on these deals:
“We were pleased to work with City and Pacific Ltd to market these prestigious and modernised townhouses and secured such high profiles tenants at two of Edinburgh’s premier business areas.
Demand for office space continues to outstrip supply in Edinburgh city centre dramatically. With a limited choice in Grade A office space, comprehensive refurbishments present great options for occupiers.”
Ryden represented City and Pacific Ltd in these deals, while Alastair Stang at JLL acted on behalf of BennBridge and Gilson Gray represented themselves.