• Edinburgh is the UK’s most prosperous city outside London

• Prime position in the heart of the City Centre

• Secure Income

• 8.25 years unexpired lease term

• Tenant has been in occupation for over 16 years and recently extended their lease, demonstrating their commitment to the property

• Heritable Interest (Scottish Equivalent of English Freehold)

• £500,000, subject to contract

• 7.46% Net Initial Yield

The subjects are situated on the west side of Lothian Road within the section of the street bounded by Morrison Street to the north and Semple Street to the south in the heart of the Edinburgh’s Exchange District.

Lothian Road forms part of one of the main arterial routes into Edinburgh City Centre from the south benefitting from high vehicular and pedestrian footfall. The subjects lie approximately 0.8 km (0.5 miles) to the south of Edinburgh City Centre within a mixed commercial and residential locality. Occupiers in the vicinity include Tesco Express, Boots, Costa, Superdrug, Poundland, Greggs, Odeon Cinema, and Pret a Manger.

In addition, the property is adjacent to 2 Semple Street, a prime, new Grade-A office scheme. The development extends to approximately 40,000 sq ft to comprise of two retail units at ground floor and five upper floors of Grade A office accommodation. The completion of this development will significantly improve the area and undoubtedly increase footfall. Other nearby office occupiers include Blackrock, Standard Life, Lloyds Banking Group, Brewin Dolphin and PwC.

The subject property comprises a well-configured ground floor retail unit which forms part of a steel framed Art Deco building dating back to 1935. The unit has been fitted out by the tenant in their usual corporate style.

Heritable (Scottish equivalent of English freehold).

The ground floor is let on a renewed lease to Indigo Sun Retail Limited on a full repairing and insuring basis for a term of 10 years from 24th March 2018, expiring on 23rd March 2028 (8.25 years unexpired lease term).

The current passing rent is £39,000 per annum which, based on our analysis, equates to £31 Zone A. There is an upwards only rent review on 24th March 2023.

The tenant recently extended their lease and has been in occupation for over 16 years.

The property has been registered for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).

We are instructed to seek offers in the region of £500,000 (Five Hundred Thousand Pounds), subject to contract, reflecting a net initial yield of 7.46%, assuming purchasers’ costs of 4.50%.

Please note a purchaser will be re-charged the cost of the searches and surveys which are provided in the data room.

Please note a purchaser will be charged a Transaction Fee of 1% of the Sale Price + VAT.

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