High Street / Retail Deals
8 St Peters Buildings, Gilmore Place, Edinburgh
Reeder Ness Property has sold 8 St Peters Buildings, Gilmore Place, Edinburgh to Lochay Residential Properties Ltd for £140,000 representing a net initial yield of 8%.
The unit comprises 534 sq ft (49.61 sq m) on the ground floor and 320 sq ft (29.73 sq m) in the basement. It is let on a 5 year FRI lease to Connor Murphy, trading as Murphy’s Vault with a mutual break at the end of year 3. The current rental is £11,400 per annum and there is an agreed uplift to £12,600 from year 4.
Lochay Residential Properties Ltd was represented by FT Linden; Reeder Ness Property was represented by Eric Young & Co.