2-bedroom flat · EH8 8BP
Under offerListed 121 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Nestled in the heart of Edinburgh’s historic Old Town, just moments from the world-renowned Royal Mile, this beautifully presented first floor flat offers an exceptional opportunity for a wide range of buyers, combining a prime central location with true walk-in condition.
Despite its enviable setting, the Canongate enjoys a slightly quieter, more residential feel, offering the perfect balance of city living and everyday comfort.
The bright and spacious accommodation comprises a welcoming entrance hallway with useful storage; an elegant living/dining room enhanced by large traditional sash and case windows, allowing for an abundance of natural light and providing space for dining, with the kitchen conveniently positioned just off; a modern, well-appointed kitchen fitted with a range of units, integrated oven, hob and cooker hood, along with space for both a washing machine and dishwasher; two generously proportioned double bedrooms, each benefitting from integrated storage; and a contemporary shower room complete with WC, wash hand basin, shower cubicle, heated towel rail and vanity mirror.
Further benefits include gas central heating, traditional sash and case windows, and access to a communal drying area.
Overall, this is a superb city centre home, ideally suited to professionals, investors, or those seeking a centrally located pied-à-terre.
The Location Situated just off Edinburgh’s iconic Royal Mile, the Canongate forms the historic eastern stretch of the Old Town, extending towards the Palace of Holyroodhouse.
Rich in character and steeped in history, the area blends cobbled streets, period architecture and a wealth of cultural landmarks, all within easy walking distance of the city centre.
Despite its central location, the Canongate offers a slightly quieter and more residential feel than the busier upper sections of the Royal Mile, while still benefiting from an excellent range of local amenities, attractions, and transport links, making it a highly desirable setting for city living.
Extras The items included in the sale of the property are the carpets, fitted floor coverings, integrated appliances, light fittings and fixtures.
The seller will not warrant the working order of the appliances, systems or services. Council Tax band C Any offers should be submitted to
Value & comps
Land Registry doesn’t cover Scotland or Northern Ireland, so previous sales may not be on record.
Returns
Set an offer; the calculator follows it.
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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.
Area
Agent & docs
FAQ
About 129/2 Canongate, Edinburgh, EH8 8BP
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