Commercial property: Victorian stock repurposed for homes
A portfolio of surplus NHS Lothian properties in a prime residential area of Edinburgh have been sold, generating £5 million of revenue for NHS Lothian (NHSL).
Scarlett Land and Development and Cushman & Wakefield completed the sale of the properties located in the leafy Grange area.
The buildings have all been acquired by private buyers for conversion into substantial private homes.
They once provided services linked to the nearby Royal Hospital for Sick Children (RHSC) which, until recently, was located in the neighbouring Sciennes area.
Following the move of RHSC to a modern, purpose-built hospital at Little France next to the Royal Infirmary of Edinburgh and Simpson’s Maternity Unit in March, a decision has been taken to relocate these services.
Three properties and a plot have been sold by Scarlett Land and Development and Cushman & Wakefield.
Numbers 14 and 16 Hope Terrace, built between 1852 and 1877, housed the Child and Adolescent Mental Health Services department.
The property at 10 Chalmers Crescent, built around 1868, was home to the Lothian College of Nursing and Midwifery, and the Community Child Health Department.
Scarlett Land and Development and Cushman & Wakefield were instructed as joint selling agents on the portfolio in 2019.
The agents will be marketing another former NHS property on the southside of Edinburgh. Number 3 Marchhall Crescent, known as Marchhall Nursing Home, is a category B-listed building, built around 1854, which lies within the Blacket Conservation Area.
The property served as a hospital during World War I before its conversion into a nursing home.
Will Scarlett, director, Scarlett Land and Development, says: “The sale of this portfolio has raised significant funds for NHSL from older properties within the estate that were identified as being no longer fit for purpose.
“The joint agents have realised best value by selling direct to owner-occupier purchasers, and taking advantage of the particularly buoyant family residential market in Edinburgh.
“We look forward to working closely with the NHSL Estates team on the remaining instruction.”
Ollie Barron, senior surveyor at Cushman & Wakefield adds: “We are delighted the purchasers have seen the significant potential these well-positioned and historic assets demonstrated.
“With NHSL moving to modern accommodation, we are pleased to have achieved best value through the sales and raise over £5m on these surplus assets.
“We look forward to working with NHSL on the launch of a further prime opportunity later this year, which is sure to generate significant market interest.”
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