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See how verdicts workProperty · EH3 6ED
Listing removedListed 80 days
Opportunity summary
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About
A rare opportunity to acquire a substantial 5 to 6 car garage extending to approximately 1,211 sq ft (112.5 sq m) in the heart of Edinburgh's prestigious New Town.
Occupying a highly sought-after position on Gloucester Lane, this unique property offers extensive secure garaging with capacity for approximately five to six vehicles, together with the significant benefit of full planning permission for conversion to a dwellinghouse, presenting an exciting opportunity for developers, investors or owner-occupiers seeking a bespoke residential project.
The garage enjoys generous internal proportions with an internal ceiling height of approximately 2.55 metres, while the electrically operated entrance door provides an opening width of approximately 16 feet (4.88 metres) and a door height of approximately 1.93 metres.
The accommodation currently comprises a large open-plan garage space together with a WC facility.
Planning permission was granted by The City of Edinburgh Council on 4 March 2024 under application reference 23/07181/ful for the conversion of the existing garage to a dwellinghouse together with associated site works.
The planning consent remains extant until March 2027, allowing purchasers ample time to progress the approved development.
Whether acquired as a significant city-centre garage, secure vehicle storage facility, collector's car store or residential development opportunity, 10 Gloucester Lane represents one of the most unusual and versatile properties currently available within Edinburgh's New Town.
Key Features • Rare large garage in Edinburgh's prestigious New Town • Approximate gross internal area of 1,211 sq ft (112.5 sq m) • Parking potential for approximately 5 to 6 vehicles • Full planning permission for residential conversion • Planning reference: 23/07181/ful • Consent valid until March 2027 • Internal ceiling height of approximately 2.55m • Garage door width approximately 16 ft (4.88m) • Secure and private lane location • Exceptional investment, storage or development opportunity • Minutes from Edinburgh city centre amenities and transport links Located in the heart of Edinburgh's prestigious New Town, 10 Gloucester Lane enjoys an enviable city centre setting just moments from the boutiques, restaurants, cafés and amenities of George Street, Stockbridge and Princes Street.
The property occupies a discreet and secure position within a sought after private lane, offering a rare combination of privacy and convenience in one of the capital's most desirable residential districts.
Excellent transport links are readily available, with Edinburgh Waverley and Haymarket railway stations within easy reach, together with an extensive network of bus and tram services providing connections throughout the city and to Edinburgh Airport.
Residents can also enjoy nearby green spaces including Inverleith Park, the Royal Botanic Garden Edinburgh and the historic surroundings of Charlotte Square and St Andrew Square.
Rarely available, this versatile property presents an outstanding opportunity for developers, investors, car collectors and owner-occupiers alike. Planning consent valid until March 2027.
Value & comps
Land Registry doesn’t cover Scotland or Northern Ireland, so previous sales may not be on record.
Returns
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Short-let restrictions apply
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Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
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