Enterprise House, Edinburgh_Property for Sale

Earl Grey Street 34, Edinburgh, EH3 9BN, UK

Enterprise House, Edinburgh

Description

Edinburgh is the capital city of Scotland and one of the fastest growing cities in the UK, with a population of 560,000 and a catchment of 1.4 million people.
The city attracts over 4 million visitors annually, injecting £1.2 billion in to the local economy.
Centrally located with value add potential - the property occupies a prominent location in the heart of Edinburgh's Exchange District, the city's main financial and commercial hub.
Purpose built 5 storey office building with convenience retail on the ground floor.
Total accommodation extends to 16,958 sq ft.
There are 6 car parking spaces to the rear of the property.
Excellent transport links in the vicinity of the property provide seamless connectivity on a local and national scale.
Specification includes raised access flooring, suspended ceilings, an 8-person passenger lift and male and female toilets on each floor, with accessible toilets on 2nd and 3rd floors.

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Attributes

Asking price

€3,774,000

Building area net

1,575 m²

Occupancy

100%

WAULT

5.18 years

Total Annual Rent

€333,279.89

Tenure

Freehold

Media

Investment Highlights

Fully let to two high quality tenants - Tesco Stores Limited and Lyons Davidson Solicitors.
WAULT of 5.18 years to expiry, without breaks.
Total passing rent of £287,030 p.a.
Exceptionally low office passing rent of £17.97 psf, with prime headline rents in Edinburgh currently standing at £46 psf.
Heritable Interest (Scottish Equivalent of English Freehold).

We are instructed to seek offers in excess of £3,250,000 (Three Million Two Hundred and Fifty Thousand Sterling Pounds). A purchase at this level would reflect a Net Initial Yield of 8.30% allowing for standard purchasers costs based on LBTT.