Owners of historic Aberdeen bank look to cash in with £2.1 million sale

A “historically significant” building in Aberdeen has found its way onto the market.

The building on Queen’s Cross has been leased to Clydesdale Bank since 1995, trading as Virgin Money.

Its owners are now looking to cash in, with a price tag of £2.1 million.

Ryden LLP is in charge of the property listing, calling it “one of Aberdeen’s most prominent and cherished landmarks”.

The selling agent said the investment opportunity, which dates back to the 19th century, also offers redevelopment potential.

Building holds ‘high prestige’

Ryden said the original part of the property was built in 1865 and holds “significant” meaning in the Granite City.

The selling agent said: “It holds high prestige due to its association with George Washington Wilson, a renowned photographer who served Queen Victoria.

“Wilson was a pioneer in the field of photography, particularly known for his work in landscape and architectural photography, which documented much of Victorian Scotland.

“Constructed in 1865, the building is a notable example of 19th-century architecture, characterised by the use of granite – a material synonymous with the Granite City of Aberdeen.

“The combination of these materials reflects the architectural trends of the time, where durable and ornate designs were favoured.

“The building’s historical and architectural significance, along with its association with a national figure like Wilson, makes it one of Aberdeen’s most prominent and cherished
landmarks.”

1 Queen’s Cross also had a spell as one of Aberdeen’s best-loved venues – Dizzy’s.

First opening its doors in 1969, the fine dining experience was relatively new to the north-east.

The popular basement eatery was fronted by local solicitor Frank Lefevre and two partners.

However, a decision was made in 1992 to sell 1 Queens Cross and move the business to 70 Carden Place.

What is up for grabs at 1 Queen’s Cross in Aberdeen?

The “prestigious” single-let office investment is located at the junction of Albyn Place and St Swithin Street.

Ryden said the 8,515 sq ft property offers an “outstanding” single-let office and a modern extension which has been fitted out to provide a banking hall.

The property also has 32 parking spaces to its rear. Virgin Money pays £225,250 in rent a year and has a lease agreement until April 2030.

Located in Aberdeen’s west end, the original building was built in 1865 and comprises lower ground, first and attic floors.

Nearby occupiers include Royal Bank of Scotland, Bank of Scotland, Johnston Carmichael, and Savills.

Ryden said the area also includes other amenities including cafes, restaurants and convenience stores.