Strong market provides backdrop to £2 million investment in Edinburgh’s Charlotte Square banking offices

The Charlotte Square Collection, a managed estate of 21 premium office properties on Edinburgh’s iconic Georgian square home to a number of major financial firms, has announced that it is planning a comprehensive refurbishment of two townhouses on the south terrace to meet strong market demand for high quality office accommodation.

Numbers 24 and 25 Charlotte Square will be reconfigured to create 8,195 sq ft over five floors, creating a distinct combination of open plan space and prestigious offices.

Occupiers include private banks, family offices and fund managers, with the Institute of Directors and Cazenove Capital, the wealth management division of Schroders, the most recent arrivals on the Square.

Other tenants include Hampden & Co, Cornelian Asset Managers, Allied Irish bank, Amati Global Investors, Murray Capital and Ruffer LLP.

The work, set to begin in early 2017, will be carried out to the same high conservation standards that have been applied across the Collection’s award-winning portfolio.

These are the fourteenth and fifteenth properties in the Charlotte Square Collection to be refurbished - 11 have been completed and work is underway at another two – reinvigorating the Square to reclaim its status as one of the UK’s most prestigious business addresses.

More than 75 percent of space is now let within the Collection.

Nick Ball of Corran Properties, which manages The Charlotte Square Collection, said: “There continues to be very positive interest in the estate and the market for indigenous companies looking to expand is strong. Charlotte Square is such a magnificent location and our vision five years ago was to restore the Square as a prestigious business address. As we have redeveloped and refurbished the properties in the portfolio, it has become home to an increasing number of private banks, family offices and boutique asset managers, alongside a number of successful Scottish and global businesses.

“The custodianship and redevelopment of the properties within the Charlotte Square Collection has been, and continues to be, a labour of love. We will continue to refurbish and upgrade the properties to ensure that the architectural heritage is respected within a modern and sustainable context. We understand that the value lies in the quality and the character of the buildings and the Square itself.”

The Charlotte Square Collection is represented by CBRE and CuthbertWhite.