132-136 Lothian Road, Edinburgh, Edinburgh, EH3 9BQ

Availability

For Sale

Price

£2,000,000

Description

For sale - multi-let retail investment in Edinburgh city centre

Key Points

  • A prime asset comprising three retail units in Edinburgh City Centre let to Philpotts, British Heart Foundation and Indigo Sun with all leases extended from 2018
  • Total passing rent of £126,000 per annum
  • Indigo Sun have occupied their unit since 2003 and have extended for a further 10 years without breaks to 2028
  • WAULT in excess of 6 years to the next lease event
  • Adjacent to 2 Semple Street; a prime Grade A office development extending to approximately 40,000 sq ft.
  • We are instructed to seek offers in excess of £2,000,000 (TWO MILLION POUNDS STERLING) exclusive of VAT for our client’s heritable interest subject to and with the benefit of the existing leases. A purchase at this level would show an attractive Net Initial Yield of 5.93% after allowing for standard purchasers costs based on LBTT (Land Building and Transactions Tax).