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94-98 Buccleuch St 493 SF Retail Condo Unit Offered at $333,209 in Edinburgh EH8 9NH
INVESTMENT HIGHLIGHTS
- Attractive local Class 3 investment opportunity
- Passing rent £17,000 per annum
- Located in the popular Newington district of Edinburgh
EXECUTIVE SUMMARY
The property is situated on the west side of Buccleuch Street within the Newington district of Edinburgh, approximately 1 mile south of Edinburgh’s city centre. Buccleuch Street forms a continuation of Causewayside, a prominent vehicular route carrying large volumes of footfall and traffic in & out of the city centre. While the surrounding location is primarily residential, the premises occupies a prominent position on a well-established secondary retail parade immediately north of the Meadows. The nearby commercial occupiers include, Format café, Andamiro, Black Lion Games & The Dagda Bar. The property comprises an attractive double windowed Class 3 premises benefitting from roller shutter door security, arranged over the ground floor of a traditional 4-storey mid terraced tenement.
PROPERTY FACTS
| Total Building Size | 958 SF | Floors | 5 |
| Property Type | Retail (Condo) | Typical Floor Size | 958 SF |
| Property Subtype | Storefront Retail/Residential | Year Built | 1924 |
| Building Class | B | Lot Size | 0.03 AC |
| Total Building Size | 958 SF |
| Property Type | Retail (Condo) |
| Property Subtype | Storefront Retail/Residential |
| Building Class | B |
| Floors | 5 |
| Typical Floor Size | 958 SF |
| Year Built | 1924 |
| Lot Size | 0.03 AC |
AMENITIES
- Security System
- Automatic Blinds
- Storage Space
1 UNIT AVAILABLE
Unit 94
| Unit Size | 493 SF | Sale Type | Investment |
| Price | $333,209 | Tenure | Freehold |
| Price Per SF | $675.88 | Cap Rate | 6.61% |
| Condo Use | Retail | NOI | $22,025.11 |
| Unit Size | 493 SF |
| Price | $333,209 |
| Price Per SF | $675.88 |
| Condo Use | Retail |
| Sale Type | Investment |
| Tenure | Freehold |
| Cap Rate | 6.61% |
| NOI | $22,025.11 |
DESCRIPTION
Internally, the accommodation has recently been refurbished to a high standard and comprises an open plan main restaurant seating area, small kitchen servery/counter, fully fitted commercial kitchen and W.C. facilities to the rear.
SALE NOTES
Client is seeking offers in excess of £250,000 reflecting a Net Initial Yield of 6.61%, assuming purchaser's costs of 2.95%.
The subjects are let on an FRI basis to Silky Pickle Ltd T/A Alby’s at a current passing rental of £17,000 per annum. A new lease was agreed on 2 nd January 2023 for a term of 10 years with expiry on 1 st January 2033, with a rent review in 2028. The tenants also have the right to extend the lease for a further 10 years to 1 st January 2043.
Interior
NEARBY MAJOR RETAILERS
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94-98 Buccleuch St
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