Passersby reported smoke coming from the basement of the building shortly before 5pm.
A spokesperson for the Scottish Fire & Rescue Service said: “We received a call at 16:45 of a fire in the basement area of the property on Montrose Terrace.
“Fire extinguishers were used as well as one high-pressured hose reel and 4 breathing apparatus.
“The stop message was received at 17:20 and the last appliance left at 17:35pm”.
There were no casualties reported at the incident.
Police officers were asked to attend for traffic control.
Montrose Terrace is currently operating a one-way system and handling more traffic than normal due to ongoing development at Leith Street.
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