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Multi Office Investment, Broughton House, 31 Dunedin Street, Edinburgh, EH7 4JG
9,771 Sq Ft / Offices
Sold - Last updated: 08 February 2021
The subjects comprise 2 interlinking office buildings with accommodation over lower ground, ground and first floor levels finished to the following specification:
- Carpet covered floors
- Suspended ceilings with integral lighting
- Security and fire alarm systems
- Tea preparation facilities
- Male and female WC's
- 7 car spaces vacant within secure garage (5 clear, 2 blocked)
- Total of 13 car spaces on site
Accommodation
Suite 1 - 101.91 sq m (1,097 sq ft)
Suite 2 - 141.03 sq m (1,518 sq ft)
Suite 3 - 130.53 sq m (1,405 sq ft)
Suite 4 - 165.46 sq m (1,781 sq ft)
Suite 5 & 5A - 114.27 sq m (1,230 sq ft)
Suite 6 & 6A - 114.27 sq m (1,230 sq ft)
Suite 7 - 140.28 sq m (1,510 sq ft)
Total 907.75 sq m (9,771 sq ft)
Terms
Proposal
We are instructed to seek offers in excess of £XXX exclusive of VAT, for our clients Scottish freehold interest in the property with the benefit of the existing leases.
A purchase at this level would show a net initial yield of 8.63% and a reversionary yield of 17.79%, after allowing for purchasers costs of 4.68%.
We believe that the property has a total ERV of £XXX per annum assuming £XXX per sq ft, £XXX per clear car space and £XXX per blocked car space.
VAT
The property is not elected for VAT.
Tenure
The property is held on a Scottish freehold basis.
Tenancies
Suites 1, 2 and 7 are let to Randolph Hill Nursing Homes Group Limited until 31 May 2020. The current passing rent is £XXX per annum. The rent includes 4 clear car spaces to the front of the building.
Suites 5 & 5A are let to BINAP Limited until 31 May 2020 with a tenant only break option on 11 March 2018. The current passing rent is £XXX per annum.
Suites 3, 4, 6 & 6A are currently vacant.
The total passing rent is £XXX per annum. Service charge information is available on request. The rent includes 4 clear car spaces to the front of the building.
EPC
Broughton House has an energy performance rating of D+. A copy of the EPC is available on request.
Specification
- 907.75 Sq M (9,771 Sq Ft)
- Current passing rent £XXX per annum
- Net initial yield of 8.63% and reversionary yield of 17.79%, assuming purchaser costs of 4.68%
- Low capital value of £XXX psf
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