Gyleview House & Calton House, 3&5 Redheughs Rigg, Edinburgh, EH12 9HH

Gyleview House and Calton House comprise two modern office buildings located on Edinburgh West Office Park. The salient details are:+ Unparalleled access to key transport infrastructure including the national motorway network, the new tram line and two railway stations+ Two office buildings let to the Scottish Ministers, extending to approximately 76,417 sq.ft (7,099.3 sq.m), strategically situated in South Gyle, one of Scotland’s premier business park locations+ The properties have a weighted average unexpired term of 2.86 years to lease expiries+ 216 dedicated car parking spaces providing an excellent ratio of 1:354 sq.ft.+ Opportunities to add value through active asset management+ Both leases have recently been extended+ Total current income of £1,180,929 per annum+ Heritable interest (Scottish equivalent of English Freehold)Offers in excess of £5,250,000 (Five Million Two Hundred and Fifty 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 21.26% assuming purchaser’s costs of 5.80%, and a low capital rate of £69 per sq.ft.

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