Gordon Lamb House, completed in early 2008, provides excellent open plan office accommodation arranged over ground to fourth floors.
Location
Edinburgh is Scotland’s capital city and is home to the Scottish Parliament. It is a key political, administrative, legal and judicial centre and is the second largest financial centre in the UK outside London. It is a popular location for science, technology,
education, culture and the arts. More FTSE 100 companies are located in Edinburgh than any other city in the UK excluding London, this serves to produce a diverse business community. Edinburgh has a resident population of approximately 470,000 and the city serves a wider catchment for East Central Scotland of over 1.3 million and the population for Edinburgh and the Lothians is forecast to grow by 48,000 by 2015. The city benefits from extensive national and international air links, with the airport lying approximately 7 miles to the west of the city centre and providing links throughout Europe and North America. Edinburgh has two main railway stations, Waverley and Haymarket, both of which provide comprehensive links to the national
rail network. More specifically, Gordon Lamb House is located in the heart of the established Holyrood area of Edinburgh where major occupiers such as The Scottish Parliament, The Scotsman Publication Headquarters, Citigroup, BBC, University of Edinburgh and the Headquarters for the City of Edinburgh Council are situated. The area is well served by leisure and retail facilities within the Macdonald Holyrood Hotel and the Holyrood Aparthotel adjacent to the property. There are a wide variety
of bars, restaurants and cafes such as Pizza Express, Starbucks and Foodies at Holyrood. This is set against the spectacular backdrop of Arthurs Seat and Holyrood Park.
Accommodation
The subjects have been measured in accordance with the RICS Code of Measuring Practice (Sixth Edition) and would estimate that the subjects extend to the following areas:
Ground Floor - 159.8 sq m (1,720 sq ft)
First Floor - 185.2 sq m (1,993 sq ft)
Second Floor - 184.6 sq m (1,987 sq ft)
Third Floor - 184.1 sq m (1,982 sq ft)
Fourth Floor - 18.73 sq m (1,278 sq ft)
TOTAL NIA - 832.43 sq m (8,960 sq ft)
Terms
Proposal
We are instructed to seek offers in excess of £XXX million exclusive of VAT for our client’s heritable interest in the subject and with the benefit of the existing leases. Based upon the passing rent of £XXX per annum, a purchase at this level would represent a net initial yield of 9.06% after deduction of purchasers costs of 5.8%.
VAT
The property is elected for VAT and accordingly VAT will be payable on the purchase price, although it is envisaged that the transaction could be treated as a Transfer of a Going Concern (TOGC).
Specification
- Metal raised access floors with integral floor boxes
- LG3 compliant Category 2 lighting
- Gas central heating
- Male & female WCs and shower
- Wheelchair accessible WC
- 9 person passenger lift
- Spectacular fourth floor roof terrace