Calton House, 5 Redheughs Rigg, South Gyle, Edinburgh

Description

Calton House is a modern, four storey office building extending to approximately 51,949 sq ft, arranged over ground, first, second and third floors. The building is planned around a central atrium with three wings accessed from this central core. The building is of steel frame construction with walls of concrete block work, faced externally in red brick. The property is suitable for refurbishment or repurposing to hotel use, subject to planning consent. The City of Edinburgh Council approved plans on March 19, 2026 for a 156-room hotel featuring 10 accessible bedrooms at ground floor and 146 guest bedrooms on the upper floors.

Accommodation

Total floor area of 4,826.1 sq m (51,949 sq ft), arranged over ground, first, second and third floors in three wings around a central atrium.

Location

West Edinburgh and the Gyle is an established office, retail and leisure location. The area is served by three train stations, multiple bus services and three tram stops, with access to Edinburgh city centre and Edinburgh Airport. The City bypass (A720) runs adjacent to the park and connects with the M8, M9, M90 and the national motorway network. The Gyle Shopping Centre is located across the road from Calton House.

Tenure / Property Information

Investment Analysis

Calton House is a vacant, heritable office building of approximately 51,949 sq ft with 152 parking spaces in South Gyle. The evidence confirms approved plans dated 19 March 2026 for conversion to a 156-room hotel, but provides no completed-sale comparables, office or hotel valuation evidence, rental evidence, refurbishment budget, buyer premium, VAT position or other acquisition costs. A supported GDV or maximum bid therefore cannot be established from the supplied evidence. The £1,900,000 guide equates to approximately £36.57 per sq ft before any buyer fee or VAT, but this is not a market valuation.

Investment Snapshot

Strategy Recommendation

Treat as a specialist commercial acquisition or hotel-conversion opportunity only. Do not rely on the guide as value or bid without an independent valuation, detailed hotel feasibility, measured-condition survey, conversion cost plan and confirmation of all buyer, seller and VAT charges.

Works Required

Potential refurbishment or repurposing of the existing four-storey office building for the approved 156-room hotel scheme, including the planned accessible ground-floor bedrooms and upper-floor guest bedrooms. No detailed specification, condition survey or cost plan is supplied, so the works scope and cost cannot be quantified.

Rental & Market Context

Potential BRRR Position

BRRR viability cannot be established. There is no supported post-refurbishment GDV, refurbishment cost, operating income, refinance valuation or finance-cost evidence. The approved hotel plans may provide a potential redevelopment route, but the evidence is insufficient to quantify refinance proceeds or investor equity.

Buy-to-Let Analysis

A conventional BTL assessment cannot be completed because no sufficiently specific rental comparable or auctioneer rent estimate is provided. The property is described as an office building, while the hotel use is a proposed repurposing strategy rather than an evidenced passing-income investment.

Flip Analysis

A flip calculation cannot be supported because there are no completed-sale comparables, GDV evidence, refurbishment costs or supported selling allowance. The guide price alone is insufficient to establish a resale surplus.

Investor Risks & Due Diligence

• No completed-sale comparables or supported market valuation are provided.

• No refurbishment or hotel-conversion cost plan is available.

• No rental or hotel operating-income evidence is provided, preventing yield analysis.

• The buyer fee and VAT treatment are not stated and may materially increase acquisition cost.

• The approved hotel scheme may require further technical, statutory or implementation work not described in the evidence.

• The building is vacant, so there is no passing income to support holding costs or BTL analysis.

Recommendation

Treat as a specialist commercial acquisition or hotel-conversion opportunity only. Do not rely on the guide as value or bid without an independent valuation, detailed hotel feasibility, measured-condition survey, conversion cost plan and confirmation of all buyer, seller and VAT charges.

Strategy Rating

Analysis Confidence

The description, floor area, approved hotel plans, parking provision, tenure, vacancy and guide price are supplied, but valuation, rent, works cost, comparable sales, fees, VAT treatment and operating assumptions are absent.