Anderson House

High yielding quality multi-let office investment.

Anderson House comprises 6 floors of flexible open plan office space, positioned within a landscaped courtyard.  In 2020, the central heating and cooling system was replaced with an air source heat pump which resulted in an EPC rating of A.

Level 0 and 1 have benefitted from an extensive category A refurbishment to include new metal ceilings, LED lighting, new raised access flooring and common part refurbishment. Internally, the accommodation provides:

  • Well configured column free floorplates
  • New HVAC heating and cooling system
  • Large, double-glazed windows
  • Suspended ceilings
  • Male, female and disabled toilets
  • Shower facilities
  • 2 x 8 person lifts
  • Attractive roof terrace
  • 47 dedicated car spaces at basement level and on an adjacent car park deck at the ratio of 1 space per 519 sq ft (48 sq m)



  • Located a few minutes’ walk from the bustling Shore area of Leith and only 10 minutes’ walk from two new tram stops at Balfour St and Foot of the Walk.
  • Quality open-plan office accommodation arranged over 6 floors extending to 24,392 sq ft (2,266 sq m) plus 47 car spaces - a ratio of 1 space per 519 sq ft (48 sq m).
  • Highly desirable efficient floorplate layout of circa 4,100 sqft – 4,300 sqft.
  • 81.43 % of the income is secured with The Scottish Ministers who have been in occupation since 2004, regearing their lease in 2020.
  • Newly installed fully electric heating and cooling system using air source heat pumps resulting the building achieving an EPC A.
  • The building offers longer term alternative use options including residential, serviced apartments or student housing subject to planning.
  • Annual gross rent of £359,176 resulting in a low average passing rent of £17.51 per sq ft, inclusive of car parking, providing a net income of £308,886 after vacant rates and service charge shortfalls.
  • Opportunity to increase rents following a planned common part refurbishment.
  • Running yield becomes 12.57% by simply letting the already refurbished ground floor at £16 psf.
  • Seeking offers in excess of £3.15m exclusive of VAT, showing a net initial yield of 9.21%, rising to 12.57% upon letting the ground floor at £16psf. This reflects a very low capital rate of £129.14 per sq ft.
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James Metcalfe

+44 (0)7786 623282

James Metcalfe