81 Bed Residential Development For Sale

Substantial Building With Planning for Conversion for 59 Apartments

4 Storey Development

City Centre Location

Private Car Park

0.87 Acres

Sale: o/o £450,000



LOCATION



Ruby House is located in a mixed residential and business location in the heart of Aberdeen City Centre in close proximity to the newly refurbished Union Terrace Gardens. It is around 250m to the north of Union Street, the main retail thoroughfare

within Aberdeen. The location of the property allows for easy access to all the amenities contained within the City Centre including schooling, shopping and various cultural venues including a theatre, art gallery and library all within 500m of Ruby House.

Ruby House is within the catchment for Gilcomstoun Primary School, and Aberdeen Grammar School for secondary education.



Aberdeen is one of the fastest-growing cities in Scotland in recent years, driven by young professionals, international talent, and family in-migration.

To this day it is still the undisputed energy capital of Europe - home to hundreds of oil & gas headquarters and a world-leading subsea engineering cluster.

The city has seen a successful pivot into the energy transition: Aberdeen is now the UK's largest hub for offshore wind (projects such as Seagreen, Neart na Gaoithe and the huge ScotWind leasing round), green hydrogen, carbon capture (Acorn CCS project), and floating wind innovation.



Investment into the city includes the Aberdeen Harbour South expansion (one of Europe's largest harbour projects) along with New Aberdeen Exhibition & Conference Centre with a wider £1 bn+ city-centre masterplan (new offices, homes, retail, public spaces). The city has Booming tech and digital cluster - OGTC (Net Zero Technology Centre), ONE CodeBase hub, and hundreds of energy-tech start-ups.



It is ranked top 5 UK cities for FDI projects outside London (EY Attractiveness Survey in recent years). Major investors include BP, Shell, TotalEnergies, Equinor, Siemens Gamesa, Vattenfall and private-equity/VC funds targeting net-zero opportunities. High wage economy (average full-time salary ~£45-50k, well above UK average) and very low unemployment (~2-3%).



In short: Aberdeen has successfully transitioned from "Oil Capital" to "Energy Transition Capital of Europe" while delivering major urban regeneration, population growth, and continued strong investment appeal.



Property



Completed in 1979, Ruby House is a prominent four-storey, L-shaped detached office building of concrete frame construction, currently offering approximately 36 dedicated on-site car parking spaces - a highly valued asset in the city centre.



Situated in a central yet discreet location, the property and its car park are accessed directly from Ruby Lane. The entire self-contained site extends to approximately 0.35 hectares (0.87 acres), presenting a rare and attractive redevelopment or refurbishment opportunity within Aberdeen's tightly held city-centre market.



With strong demand for residential, alternative uses such as residential, student accommodation, hotel or mixed-use schemes (all subject to planning), Ruby House represents one of the most exciting development propositions currently available in the heart of the Granite City.



Planning



Detailed Planning Permission (220346/DPP) was granted by

Aberdeen City Council for the conversion of Ruby House from office

accommodation to 59 residential apartments on 29th November 2022.



The 59 flats would comprise 37 x 1-bed units and 22 x 2-bed units. Consent was

granted subject to certain conditions.



Full information regarding the planning consent can be obtained from the

selling agents or via the planning portal on Aberdeen City Councils website:






A Section 75 Agreement has been completed and registered relative

to the proposed conversion of Ruby House to residential accommodation.

This requires the developer to contribute the sum of £1997.09 per

unit to Aberdeen City Council for the delivery of Community Facilities, Core

Paths, Healthcare and Open Space. The site is within the City Centre

Conservation Area



Area



The property extends to the following gross internal areas;



Ground: 943.61sqm (10,157sq ft)

1st: 943.61sqm (10,157sq ft)

2nd: 943.61sqm (10,157sq ft)

3rd: 943.61sqm (10,157sq ft)



Total: 3,774.43sqm (40,628sq ft)



Sale



The property is available on a freehold basis for offer in excess of £450,000



V.A.T.



The property is elected for V.A.T.



Legal



Each party shall bear their own legal costs incurred in the transaction



Viewing



By appointment



Anti-Money Laundering



In order to comply with anti-money laundering legislation, the successful purchaser/tenant will be required to provide certain identification documents. The required documents will be confirmed to and requested at the relevant time