Edinburgh 'eyesore' building Argyle House - used in Irvine Welsh's Crime TV series - sold for £38 million

A building which was used in Irvine Welsh's Crime TV series and is widely considered as one of the ugliest in Edinburgh has been sold for £38 million.

PGIM Real Estate has purchased Argyle House at Lady Lawson Street from global real estate investment company Kennedy Wilson for the eye-watering sum of money.

The landmark building in the city’s West Port area has long been seen by locals as an eyesore, with many people keen to see it demolished.

It was used in the recent STV drama ‘Crime’ as the fictional Edinburgh police HQ where lead character DI Ray Lennox, played by Mission: Impossible actor Dougray Scott, worked on tackling crimes in the city. The hit-TV series was based on the novel of the same name by Trainspotting author Irvine Welsh, and his follow-up book The Long Knives.

Speaking abut the purchase or Argyle House, Charles Crowe, head of UK investment at PGIM Real Estate, said: “Supported by the strong underlying fundamentals of the city, Argyle House combines a secure income stream with fantastic long-term potential for redevelopment and regeneration in the heart of Edinburgh city centre.”

Matt Milroy, head of asset management for the UK at Kennedy Wilson, added: “We acquired Argyle House opportunistically as part of a larger non-performing loan portfolio in 2014, identifying a strong underlying asset in a fantastic location generating government-backed income.

“Having reached the end of our business plan for Argyle House, we’ve taken the opportunity to realise our investment with the sale demonstrating the continued strength of the Edinburgh market.”