TSB bank’s Edinburgh headquarters has been put up for sale just weeks after Spanish bank Santander acquired the business.
Agents are seeking offers of over £18.55 million for the Georgian property in George Street, known as Henry Duncan House.
It is currently let to TSB Bank until December 2031 but the brand could disappear following Banco Sabadell’s decision to Santander which will become the third largest bank in the UK by personal current account balances.
Agents say the building is currently let at an exceptionally low rate of £25.12 per sq ft and there fore has significant rental growth potential with a 2026 rent review pending.
Recent office sales in Edinburgh city centre have been aachieving £260-£360 per sq ft.
There is an opportunity to engage with the tenant to discuss either full or partial lease surrenders and/or agree direct leases with future subtenants to crystallise rental growth.
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