Ocean Terminal Shopping Centre - Edinburgh
Ocean Terminal, 74 Ocean Drive, Leith, Edinburgh, EH6 6JJ
$24,262,000 | 277,435 sf
Description
Long-let supermarket investment with c. 50 years term certain.
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Attributes
Asking price
$28,330,000
Building area net
118,611 sf
Occupancy
100%
Year built
1974
Cap rate
5.5%
NOI
$1,665,000
Media
Investment highlights
- Prominently situated in Washington fronting both Sunderland Highway (A1231) and Washington Highway (A182)
- Newly refurbished supermarket unit of 118,611 sq ft, with approximately 458 car parking spaces (1:259 sq ft)
- Large catchment population of 1,198,323 people (2021) with a comparison goods spend potential of £74.4 million
- Single-let in its entirety to McLagan Investments Ltd, with a Guarantee from Asda Stores Limited
- Exceptionally long unexpired term of 49 years to expiry with no breaks
- Passing rent of £1,243,550 per annum equating to an affordable average rent of £10.46 per sq ft secured against a low risk covenant
- Freehold
Contact brokers
Asda Washington (0 Properties)
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Last updated
May 16, 2024
