Lochside View 7, Edinburgh, City of Edinburgh, EH12 9DH, UK

7 Lochside View - Edinburgh Park

Asset description

Edinburgh is the historic, administrative and financial capital of Scotland and one of the most prosperous cities in the UK.
Edinburgh Park is widely acknowledged as Scotland's premier business park and is home to a number of bluechip occupiers including HSBC, JP Morgan and Diageo.
Strategically located 5 miles west of Edinburgh City Centre and 2 miles east of Edinburgh Airport.
7 Lochside View is the most prominent office building on Edinburgh Park and is highly visible from the Gogarburn Interchange.
Modern, Grade A office building constructed in 2002 extending to 60,167 sq ft over ground and two upper levels.
There are 239 designated car parking spaces (1:268 sq ft).
High quality double height spacious reception incorporating limestone floor tiles, a mixture of glazed curtain walling and ornamental polished plaster wall finishes.
VRV system providing heating/cooling to the office accommodation.

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Asking price

CA$12,582,000

Building area net

5,590 sm

Year built

2001

WAULT

2 years

EPC

Grade A

The building has a strong letting history and is currently let to Origo Services Ltd and WSP UK Ltd.
Current passing rent of £394,939 per annum.
WAULT of 5.61 years to expiries and 2 years to breaks.
Outstanding opportunity to refurbish the building to improve the ESG credentials and capitalise on the current high levels of occupier demand for West Edinburgh.
Opportunity to improve the income profile of the asset through effective asset management.
EPC Rating of A (8).
Heritable Tenure (Scottish Equivalent of English Freehold). We are instructed to seek offers in excess of £7,000,000 (Seven Million Pounds Sterling) for our client’s heritable interest in the property, subject to contract and exclusive of VAT. A purchase at this level would produce a net initial yield of 10.60% on the current income and a capital rate of £85.66 per sq ft on the vacant space, assuming purchasers costs of 6.64%.