FOR SALE RARE VAT FREE STOCKBRIDGE RETAIL INVESTMENT OFFERS OVER 250,000 33 DEANHAUGH STREET EDINBURGH EH4 1LU
EXECUTIVE SUMMARY: Rare opportunity to acquire a VAT Free retail investment in the affluent area of Stockbridge; Fantastic private investor opportunity offering secure income in an established retail location; Passing rent of 14,000 per annum ( 39.33/sqft Zone A); Estimated Rental Value of 16,000 per annum ( 45/sqft Zone A) with effect from 1 September 2019; Reversionary yield of 6.3% in 2019; We are instructed to seek offers in excess of 250,000 (TWO HUNDRED AND FIFTY THOUSAND POUNDS STERLING) exclusive of VAT. A purchase at this level would show a net initial yield of 5.5% and an extremely attractive reversionary yield of 6.30%, after allowing for purchasers costs of 2.98% including LBTT (Land Building and Transactions Tax).
ewe Road South in Drive nue l Victoria spital OAD chard Bank dens ford Avenue Coltbridge Orchard Road Queensferry Ravelston Park Terrace Ravelston Park Belford Road Fettes Col 33 DEANHAUGH STREET EDINBURGH EH4 1LU LOCATION: Carrington Road Fettes Avenue Edinburgh is the capital city of Scotland, located approximately 400 miles north of London and 45 miles east of Glasgow. It is Coltbridge ster Orchard Place Orch ard Brae Ravelston Terrace Belford Park COMELY BANK ROAD M Belford Rd D ue Learmonth Avenue one of the six cities categorised by PMA as a major city and, consequently, benefits from a significant catchment population. QUEENSFERRY ROAD Road communications are excellent with the M90 located to the north, the M8 and M9 to the west and the A1 trunk road to the south which provide links to all major cities in the UK. The city is well served by the rail network, with direct and frequent services to London (Euston and Kings Cross) and Glasgow with fastest journey times of approximately 4 hour 50 minutes and 51 minutes respectively. Edinburgh also benefits from one of Britain s fastest growing airports, providing both domestic and international flights. D e an Path ouglas Crescent Sunbury St Douglas Belgrave Crescent Belfor Eglinton Crescent r Dean Path d Rd osve Inverleith Park Co Inverleith Boating Pond mely Bank Avenue Rothesay Place Palmerston P nor cent Rd lac Dean Park Crescent Belford Drumsheugh Manor Place Chester Street e Portgower Place COMELY BANK ROAD Bank Row Mews De BRIDGE Lennox St DEAN Belf Lynedoch Place Lane ord Rd Melville Street William Street Arboretum Ave RAEBURN PLACE Dean Street Stafford St Alva St Canning St St Dean Terrace QUEENSFERRY ST Moray Place St Lane Queensferry INVERLEITH TERRACE Charlotte Sq Charlotte Sq SHANDWICK PLACE Glenogle Road HAMILTON PLACE Clarence St Gloucester Lane St Stephen St India Street Hope St Lane LOTHIAN RD Wemyss Place West Approach Rd Young St North Castle St George St Rose Street idge HENDERSON ROW EYRE PLAC E Castle Ter Howe Street Heriot Row Hill Street Castle St Great King St Princes Street King's Stables Rd George St Fettes Row Cumberland Street Frederick St Dundas Street Northumberland St Queen Street Frederick St Thistle St King George V Park George St Hanover St Hanover St hnston Terrace Scotland St Abercromby Place The Mound George St PRINCES STREET BROUGHTON ROAD RODNEY ST BELLEVUE Dublin Street St Andrew Square East Princes St Castlehill t South St. David St London Stree Meuse Lane Lawnmarket Waverley Bridge Market St George IV Bri Yo Re Nor So
SITUATION: INVERNESS A96 A9 Nairn A96 A90 The property is situated in a prime retailing position on Deanhaugh Street in the heart of Stockbridge, one of Edinburgh s most affluent and vibrant locations. Nearby occupiers include Sainsbury s, Barnardo s, Pizza Express, Soderberg, Holland & Barrett, Starbucks, Farrow & Ball and J Mellis Cheesemonger. Fort William Aviemore ABERDEEN Pitlochry A90 A92 A9 DUNDEE Oban PERTH A90 St Andrews Stirling M9 M90 M80 Kirkcaldy GLASGOW M9 Falkirk M8 A1 EDINBURGH FOR SALE A78 M77 A7 A68 M74 Prestwick Ayr A68 Lockerbie Dumfries DESCRIPTION: The subject property comprises a ground and basement retail unit within a single storey block. The ground floor provides a front sales area, rear kitchen/wc facilities and basement storage.
ACCOMMODATION: We have measured the subject premises in accordance with the RICS Code of Measuring Practice 2007 (Sixth Edition) and would estimate the following approximate net internal areas: FLOOR SIZE (SQ M) SIZE ( SQ FT) Ground 31.13 335 Basement 19.33 208 TOTAL NET INTERNAL AREA 50.46 543 REDUCED FLOOR AREA 33.06 356
TENANCY INFORMATION: The subjects are let entirely to New Town Deli Ltd on a 10-year term from 15 September 2014 on a Full Repairing & Insuring Lease at a passing rent of 14,000 per annum ( 39.33/sqft Zone A) with expiry on 14 September 2024. The rent will be reviewed on the fifth anniversary, 15 September 2019, to the higher of the passing rent or Open Market Value. ESTIMATED RENTAL VALUE (ERV): Our opinion of the ERV is 16,000 per annum ( 45/sqft Zone A). However, there are some retail units within the area achieving in excess of this level, thus making this investment opportunity highly reversionary. TENURE: The subject property is held on a heritable title (Scottish equivalent of English Freehold). COMPANY INFORMATION: New Town Deli Ltd are a locally owned and run business, presently incorporating three shops operated out of Edinburgh s New Town. In addition to Deanhaugh Street, New Town Deli currently operate from two additional locations across the New Town area to include Broughton Street and Henderson Row.
EPC: The subjects have an EPC rating of G. PROPOSAL: We are instructed to seek offers in excess of 250,000 (TWO HUNDRED AND FIFTY THOUSAND POUNDS STERLING) exclusive of VAT. A purchase at this level would show a net initial yield of 5.5% and an extremely attractive reversionary yield of 6.30%, after allowing for purchasers costs of 2.98% including LBTT (Land Building and Transactions Tax). VIEWING & FURTHER INFORMATION: Please contact the sole selling agent: Sheridan Property Consultants www.sheridanproperty.co.uk Stewart Sheridan/Cathal Keane/Graeme Millar Sheridan Property Consultants 37 ONE, 37 George Street Edinburgh EH2 2HN Tel. 0131 300 0296 VAT: This will be treated as a VAT Free sale and therefore there will be no VAT payable on the purchase price. Stewart: 07740 940898 email: stewart@sheridanproperty.co.uk Cathal: 07808 627224 email: cathal@sheridanproperty.co.uk Graeme: 07523 512804 email: graeme@sheridanproperty.co.uk LEGAL COSTS: Each party will be responsible for their own legal costs incurred in connection with the transaction. Sheridan Property Consultants for themselves and for the vendors or lessors of this property whose agents they are give notice that: (i) the particulars are set out as a general outline only for the guidance of intending purchasers or lessees, and do not constitute, nor constitute part of, an offer or contract; (ii) all descriptions, reference to condition and necessary permission for use and occupation, and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them and are advised to do so; (iii) no person in the employment of Sheridan Property Consultants has any authority to give representation or warranty whatever in relation to this property; (iv) all prices, rents and premiums quoted are exclusive of VAT at current rate; Date of Publication: April 2018