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14-17, Atholl Crescent, Edinburgh, EH3 8HA

1

CLOSING DATE: WEDNESDAY 28 JUNE 2017 AT 12 NOON


Tenure:

For Sale

Type:

Investment property

Price:

£8,500,000 Offers Over

Size:

30,753 Sq ft

The property comprises three distinct interconnected office premises. The accommodation is arranged in an H-shaped plan and consists of four Thomas Bonnar designed Georgian townhouses dating from 1825 to the Atholl Crescent elevation, a mews building facing Atholl Crescent Lane and a link building between the two, both of which were constructed in 1985.

The four interconnected townhouses are of traditional sandstone construction with pitched and slated roofs and provide accommodation over basement, ground and three upper floors. The buildings provide traditional cellular space retaining a number of impressive period features. Two 8-person lifts are stiuated within No 15 which also provides the main pedestrian access and reception fo the property.

Closing date: 2017-06-28

Floors/Units:
Offices 30,753 Sq ft
TOTAL 30,753 Sq ft

Associated files:

- Superb city centre location.
- Significant underlying vacant possession value.
- NIA of c.30,753 sqft.
- 22 unrestricted and 5 restricted car spaces.
- FRI lease to Brodies LLP expiring 10 November 2019.
- Scottish Law Firm of the Year for the last six years.
- Creditsafe rating of 98/100 "Very Low Risk".
- Current passing rent of £580,000 pa rising to £615,000 pa on 11 November 2018.
- Offers over £8.5m (exclusive of VAT).
- Net Initial Yield of 6.43% rising to 6.81% (based on purchasers costs of 6.19%).
- Capital rate of approximately £256.48 per sqft exclusive of car parking.

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