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South Fort Street Business Park, 20 West Bowling Green Street, Edinburgh, EH6 5PE
26,223 Sq Ft / Industrial
Withdrawn - Last updated: 05 October 2020
South Fort Street Business Park, Edinburgh comprises five industrial units currently let to two national covenants with one vacant unit.The main salient details are as follows:¦ City centre multi-let industrial estate extending to circa 26,223sq ft (2,436.18 sq m).¦ South Fort Street Business Park is located within Bonnington, 2 miles north of Edinburgh’s city centre.¦ Currently let to two national covenants with one vacant unit.¦ The properties have a weighted average unexpired term of 6.33 years to lease expiries, inclusive of a 18 month Rent & Service Charge Guarantee.¦ Opportunities to add value through active asset management.¦ Total current income of £169,838 per annum including the proposed rental guarantee. Our opinion of total MRV is £170,450 per annum. The subjects are held by virtue of a long ground lease, expiring on 28the February 2120. The current ground rent is £25,000 pa.Offers in excess of £1.369m are sought for our clients leasehold interest in the property. A purchase at this level would provide a net initial yield of 10.00%, assuming purchaser’s costs at 5.80%, an equivalent yield of 9.65% and a potential reversionary yield of 10.04%.
Location
South Fort Street Business Park, 20 West Bowling Green Street, Edinburgh , EH6 5PE, Midlothian, Scotland
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