A balanced portfolio of commercial and residential invesments.
5A Piershill Place - A newly refurbished one bedroom property on the first floor.
5B Piershill Place - A newly refurbished one bedroom property on the first floor.
5 Piershill Place - The subjects form part of a ground floor office/retail unit contained within a two storey end terraced building. The building is of traditional stone construction held under a pitched and slated roof. Internally, the unit is predominantly open plan providing good office space together with male and female WC facilities located to the rear. Access is taken from pavement level off Piershill Place and benefit from main road frontage.
4 Piershill Lane - Industrial Investment with Future residential development opportunity. The subjects comprise an end terraced stone and brick built warehouse/workshop facility of single storey construction being held under a mixed pitched timber and slated and pitched corrugated sheeted room. The subjects benefit from a timber entrance door fronting Piershill Lane providing a mix of open plan and cellular storage accommodation internally.
Location
Piershill Place is situated close to the junction of Portobello Road (A1140) and the A1 at the corner known to many as Jock’s Lodge approximately 2.1 miles east of the city centre. Holyrood Park and Meadowbank Stadium are both nearby landmarks.
More specifically the subjects are located on the south side of Piershill Place, a section of Portobello Road bound by Piershill Lane to the west .There is a Morrisons supermarket nearby and several other retailers including Domino’s and Brown’s Opticians. The area is well served by public transport with regular bus services offering city-wide destinations with the districts of Portobello and Leith easily accessible.
Accommodation
5A Piershill Place - One Bedroom Flat - 969 sq ft
5B Piershill Place - One Bedroom Flat - 969 sq ft
5 Piershill Place - Multiple Use Office/Retail Unit - 969 sq ft
4 Piershill Lane - Workshop - 2,131 sq ft
For a more detail view of the specifications of each property, please view attached brochure
Terms
Price
We are instructed to seek offers in excess of £XXX (FOUR HUNDARED AND FIFTY THOUSAND POUNDS STERLING) exclusive of VAT. Which reflects at Net Initial Yield of 8.55% after allowing for standard purchasers costs.
VAT
VAT has not been elected on the 2 apartments. Therefore no VAT will be charged on this aspect of the portfolio. The premises at 4 Piershill Lane and 5 Piershill Place have been elected for VAT and will be treated as a TOGC.
Legal Expenses
Each party to bear their own legal expenses in connection with this transaction.
EPC
Available upon request.
Tenant Information & Tenancies
For a more detailed view of tenancies & tenant information, please view attached brochure
Specification
Investment Summary
- Mixed Use Investment Opportunity
- Two residential apartments at first floor level
- Extensively redeveloped ground floor office
- Fully refurbished modernized workshop
- Total rent roll of £XXX per annum
- Long term residential redevelopment opportunity