In brief...: £3.3million for prime site

Sep 5 2008

Cushman and Wakefield advised Stockland on the sale of a 0.9-acre site in Edinburgh for £3.3million.

The Glenterrin Limited Pension Fund snapped up the spot at 162 Dundee Street which has planning permission for an office development of 66,000 square feet.

Chris Cuthbert, partner at Cushman and Wakefield in charge of office agency and development, said: "Demand for development land and consented schemes has slowed in recent months, so Stockland was delighted to have received six strong offers for this parcel of land at the closing date.

"Key to the success of this sale was the historic planning consent for a building of 25,000 sq ft which was resubmitted by Stockland and enhanced at the end of 2007."