Summary
High Yielding, Multi-let Office Investment Opportunity
Investment Summary
• Edinburgh, a vibrant capital city, is a major financial, administrative, legal and commercial centre;
• Strong economic and property fundamentals ensure that the city remains a key destination for UK and international investment;
• 48,802 sq ft of accommodation split over 4 levels allowing for flexible subdivision, with the benefit of 83 parking spaces (1:588 sq ft);
• 93% let with an AWULT of 2.33 years to break and 4.82 years to expiry;
• The total current passing rent is £921,391 per annum (subject to guarantees);
• Average rent of £18.88 per sq ft offers good growth potential given current supply/demand dynamics;
• Medium/ longer term opportunity for re-development;
• Heritable Interest (Scottish equivalent of freehold).
Offers over £8,675,000 (Eight Million Six Hundred and Seventy Five Thousand Pounds) are sought for our client’s Heritable Interest, subject to contract and exclusive of VAT.
A purchase at this level would provide a net initial yield of 10% after purchaser’s costs of 6.19% and a capital rate of £178 per sq ft.