4 Gayfield Place Lane is a modern purpose built mews style property of steel frame construction arranged over ground and first floors. Internally the property provides open plan office accommodation with WC and tea prep facilities along with a single garage providing storage space.
Location
Situated in the heart of Edinburgh, 4 Gayfield Place Lane enjoys a prime location just moments from the east end of Princes Street and the bustling thoroughfare of Leith Walk. This well-connected area combines the charm of a historic setting with the convenience of city-centre amenities, making it an attractive base for a range of occupiers.
Accommodation
GROUND FLOOR OFFICE 729 sqft
GROUND FLOOR STORAGE/GARAGE 145 sqft
FIRST FLOOR OFFICE 1,215 sqft#
TOTAL 2,089 sqft
Terms
Tenancy The subjects are available by way of sale and leaseback. The intention is for International Organisation Development Ltd to enter into a new FRI lease, subject to a schedule of condition, for a five-year term with a mutual break option after three years (subject to nine months’ prior written notice). The starting rent will be £42,000 per annum reflecting a rental rate of £20 per sq ft. A copy of the draft lease and schedule of condition can be made available to seriously interested parties
International Organisation Development Ltd trading (t/a IOD Parc) have a creditsafe rating of 65 ‘B’ indicating ‘Low Risk’. In their accounts 30/04/2024 they reported a Net Worth of £425,769. Incorporated in 1998 IOD Parc is a private consulting company and a leading global specialist-provider in results-based performance assessment in international development. Working with a range of international bodies, IOD Parc has led over 1,000 consultancy assignments in more than 100 countries worldwide. With its varied client base, including multi-lateral, bi-lateral and UN Agencies, IOD Parc has developed an acclaimed reputation for its work. Notable clients include UNICEF, British Council, and World Bank.
Tenure Outright ownership interest.
Proposal We are instructed to invite offers in excess of £650,000 (exclusive of VAT). A purchase at this level would reflect a Net Initial Yield of 6.15% (assuming usual purchasers’ costs including LBTT of 5.03%) and an attractive capital rate per sq ft of only £311.
The property has an EPC rating of B. A copy of the certificate can be provided on request
We understand the subjects are elected for VAT. Due to the sale and leaseback nature of this proposed transaction we anticipate VAT will be payable on the purchase price and subsequently recovered by the purchaser.
Specification
- Attractive Self-Contained Modern Office Building
- Extending to 2,089 sq ft including a single garage
- Superb location within Edinburgh City Centre’s East-end Sale and Leaseback to International Organisation Development Ltd t/a IOD Parc Creditsafe rating of 65 ‘B’
- Low Risk Proposed rent of £42,000 per annum (c. £20 per sq ft)
- Offers over £650,000 exclusive of VAT
- Attractive NIY of 6.15% and capital rate of £311 per sq ft
- Adaptable building, high value location, suitable for future owner occupation, investment purposes, or potential residential use (subject to planning).