It used to be the haunt of young Edinburgh clubbers, where many of Edinburgh's fledging professionals spent their musical youths; now, with a slight change of name and some imaginative redevelopment and marketing, it is set to be launched as a niche office project in the centre of the city.

Given the parlous state of new office availability in the city this year, this redevelopment, down the road from the massive Waverley Gate which has attracted only one tenant so far, is an office offering arriving on the market at just the right time

It could be said that, again, the building is hitting the right note.

When the music stopped at The Venue at 15-21 Carlton Road there were plans to develop an apartment block. These fell through and it was in that the Edinburgh-based Plum Developments arrived on the scene.

It has made its name in redeveloping city centre building into contemporary residential accommodation but was also moving into the commercial property world and had its own ideas about the future of The Venue, now re-named Venue Studios.

Alex Cliff, one of the co-founders of Plum, says: "We knew when we bought The Venue that we were buying a famous building, one that people looked back on with excited memories. We wanted to retain the heritage and to create space where commerce can be fun and full of energy. This is business space for growing companies in a hurry, the type of space normally occupied by multinational banks and financial services firms.

"We were determined to turn it into a creative hub - a building which retains the energy of the old Venue and can be a place for creative companies in the centre of Edinburgh.

Plum has added to the building a new layer - a fully-glazed top floor with uninterrupted views across Edinburgh and up to Arthur's Seat, and the size of the six floors extends from 1,507sq ft to 12,646sq ft. It is the job of agents to enthuse over properties that they are marketing but agents Cushman & Wakefield is genuinely impressed with the Plum Venue Studios.

David Johnston, surveyor, office agency, in the Cushman & Wakefield Edinburgh office, says: "Having advised Plum through-out the initial purchase to the refurbishment of Venue Studios, it has been fascinating to see the scheme come to life.

"The quality of the space and the views out if the building are what really shine and already we have strong interest from a number of parties who also see our clear vision of the property.

"Being next to Waverley station and only a quick walk from Princes Street and George Street is a huge selling point. In fact, so much selling point. In fact, so much so that we nearly named the building Platform 21. In the end, we decided to retain the Venue link for many reasons and we feel the branding works. It is highly motivating to be involved in such an exciting project".

Although it has built its reputation on high-quality residential refurbishments, Plum has a lot more on its CV including the successful development at Sighthill on the former Ethicon site, a retail/commercial development in Fort William, a trade and retail park at Shawfield, a major industrial estate it has bought in Glasgow and it has even picked up a couple of developments in Frankfurt. Venue Studios marks its first major foray into commercial property.