FoR SAlE - Graham + Sibbald
Retail Investment 29-35 Hamilton Place, Edinburgh, EH3 5BA
For Sale
• Prominent corner retail unit • VAT Free Investment • Current passing rent £20,000 per annum with an ERV of £22,500 per annum • Future sub-division / asset management potential • Offers over £295,000 are invited (6.56% Net Initial Yield & 7.39% Reversionary Yield)
29-35 Hamilton Place, Edinburgh, EH3 5BA Location The subjects lie within the popular Stockbridge district of Edinburgh approximately ¾ of a mile to the north of the City Centre. The subjects lie in a popular retailing location where the majority of occupiers are a mix of commercial and residential. More specifically, the subjects are situated on the north side of Hamilton Place at its intersection with Saxe Coburg Street. Description The subjects comprise two adjacent at present interconnected ground floor retail units with basement accommodation situated within the basement, ground and three storey corner building of a traditional stone tenement under a pitched and slated roof. Internally, the accommodation at 29 Hamilton Place provides a ground floor retail unit with access to shared toilet facilities and storage. 31-35 Hamilton Place comprises of a larger ground floor retail unit with basement area benefitting from prominent corner access with a secondary access point at ground floor level. Lower ground floor level accommodation is cellular in nature benefitting from a degree of natural daylight with full head height and rear fire egress. Accommodation We have measured the property in accordance with the RICS Code of Measuring Practice 6th Edition and have calculated the approximate floor areas:Address
Net Internal
Reduced Floor
29 Hamilton Place, Edinburgh
29.5 sq m / 317 sq ft
28.34 sq m / 305 sq ft
31-35 Hamilton Place, Edinburgh Total:
Ground: 65.01 sq m / 700 sq ft Basement: 82.44sq m / 887 sq ft 147.54 sq m / 1,588 sq ft
64.03 sq m / 689 sq ft
Combined Total
176.95 sq m / 1,905 sq ft
92.37 sq m / 994 sq ft
29-35 Hamilton Place, Edinburgh, EH3 5BA Tenancy Information Tenant
Gorgeous Therapies Ltd
Date of Entry
October 2012
Lease Expiry
17 October 2022
Break Option
16 October 2017 (not exercised)
Rent
£20,000 per annum
Rent Review
Upwards only to Open Market Rent, on a 5 yearly rent review pattern
Repair
Full Repairing and Insuring subject to Schedule of Condition
Alienation
The tenant is permitted to assign and sub-let and share occupation with other users in part or the whole of the premises subject to the consent of the landlord. The assignee/sub-tenant must be of a sound financial standing.
User
Permitted user under Use Class 2 of the Town and Country Planning (Use Classes) (Scotland) Order 1997 with ancillary café use granted.
Price Offers in excess of £295,000 are invited reflecting a Net Initial Yield of 6.56% after assuming standard purchaser’s costs. Our opinion of ERV (Estimated Rental Value) is £22,500 per annum which represents a 7.39% reversionary yield on asking. EPC A copy of the EPC Certificate is available on request. Legal Expenses Each party to bear their own legal expenses incurred in connection with this transaction. However, the prospective purchaser will be liable for any Stamp Duty Land Tax and Registration Dues incurred herein. VAT VAT has not been elected and this is a VAT free investment. Viewing and Further Information Strictly through the sole selling agents: Graham + Sibbald 11 Manor Place, Edinburgh, EH3 7DL Graeme Millar [email protected] 0131 240 5290
Aberdeen 01224 625 024 Ayr 01292 271 030 Dundee 01382 200 064 Edinburgh 0131 225 1559 Falkirk 01324 638 377 Glasgow 0141 332 1194 Hamilton 01698 422 500
Inverness 01463 236 977 Kilmarnock 01563 528 000 Kirkcaldy 01592 266 211 Paisley 0141 889 3251 Perth 01738 445 733 Stirling 01786 463 111 Weybridge 01932 260 726
IMPORTANT NOTICE Please read carefully 1. These particulars are intended as guide only. Their accuracy is not warranted or guaranteed. Intending Purchasers/Tenants should not rely on these particulars but satisfy themselves by inspection of the property. Photographs only show parts of the property which may have changed since they were taken. 2. Graham & Sibbald have no authority to give any representation other than these particulars in relation to this property. Intending Purchasers/Tenants take the property as they find it. 3. Graham & Sibbald are not authorised to enter into contracts relating to this property. These particulars are not intended to nor shall they form part of any legally enforceable contract and any contract shall only be entered into by way of an exchange of correspondence between our client’s Solicitors and Solicitors acting for the Purchaser/Tenants. 4. All plans based upon Ordnance Survey maps are reproduced with the sanction of Controller of HM Stationery. 5. A list of Partners can be obtained from any of our offices.
For Sale
• Prominent corner retail unit • VAT Free Investment • Current passing rent £20,000 per annum with an ERV of £22,500 per annum • Future sub-division / asset management potential • Offers over £295,000 are invited (6.56% Net Initial Yield & 7.39% Reversionary Yield)
29-35 Hamilton Place, Edinburgh, EH3 5BA Location The subjects lie within the popular Stockbridge district of Edinburgh approximately ¾ of a mile to the north of the City Centre. The subjects lie in a popular retailing location where the majority of occupiers are a mix of commercial and residential. More specifically, the subjects are situated on the north side of Hamilton Place at its intersection with Saxe Coburg Street. Description The subjects comprise two adjacent at present interconnected ground floor retail units with basement accommodation situated within the basement, ground and three storey corner building of a traditional stone tenement under a pitched and slated roof. Internally, the accommodation at 29 Hamilton Place provides a ground floor retail unit with access to shared toilet facilities and storage. 31-35 Hamilton Place comprises of a larger ground floor retail unit with basement area benefitting from prominent corner access with a secondary access point at ground floor level. Lower ground floor level accommodation is cellular in nature benefitting from a degree of natural daylight with full head height and rear fire egress. Accommodation We have measured the property in accordance with the RICS Code of Measuring Practice 6th Edition and have calculated the approximate floor areas:Address
Net Internal
Reduced Floor
29 Hamilton Place, Edinburgh
29.5 sq m / 317 sq ft
28.34 sq m / 305 sq ft
31-35 Hamilton Place, Edinburgh Total:
Ground: 65.01 sq m / 700 sq ft Basement: 82.44sq m / 887 sq ft 147.54 sq m / 1,588 sq ft
64.03 sq m / 689 sq ft
Combined Total
176.95 sq m / 1,905 sq ft
92.37 sq m / 994 sq ft
29-35 Hamilton Place, Edinburgh, EH3 5BA Tenancy Information Tenant
Gorgeous Therapies Ltd
Date of Entry
October 2012
Lease Expiry
17 October 2022
Break Option
16 October 2017 (not exercised)
Rent
£20,000 per annum
Rent Review
Upwards only to Open Market Rent, on a 5 yearly rent review pattern
Repair
Full Repairing and Insuring subject to Schedule of Condition
Alienation
The tenant is permitted to assign and sub-let and share occupation with other users in part or the whole of the premises subject to the consent of the landlord. The assignee/sub-tenant must be of a sound financial standing.
User
Permitted user under Use Class 2 of the Town and Country Planning (Use Classes) (Scotland) Order 1997 with ancillary café use granted.
Price Offers in excess of £295,000 are invited reflecting a Net Initial Yield of 6.56% after assuming standard purchaser’s costs. Our opinion of ERV (Estimated Rental Value) is £22,500 per annum which represents a 7.39% reversionary yield on asking. EPC A copy of the EPC Certificate is available on request. Legal Expenses Each party to bear their own legal expenses incurred in connection with this transaction. However, the prospective purchaser will be liable for any Stamp Duty Land Tax and Registration Dues incurred herein. VAT VAT has not been elected and this is a VAT free investment. Viewing and Further Information Strictly through the sole selling agents: Graham + Sibbald 11 Manor Place, Edinburgh, EH3 7DL Graeme Millar [email protected] 0131 240 5290
Aberdeen 01224 625 024 Ayr 01292 271 030 Dundee 01382 200 064 Edinburgh 0131 225 1559 Falkirk 01324 638 377 Glasgow 0141 332 1194 Hamilton 01698 422 500
Inverness 01463 236 977 Kilmarnock 01563 528 000 Kirkcaldy 01592 266 211 Paisley 0141 889 3251 Perth 01738 445 733 Stirling 01786 463 111 Weybridge 01932 260 726
IMPORTANT NOTICE Please read carefully 1. These particulars are intended as guide only. Their accuracy is not warranted or guaranteed. Intending Purchasers/Tenants should not rely on these particulars but satisfy themselves by inspection of the property. Photographs only show parts of the property which may have changed since they were taken. 2. Graham & Sibbald have no authority to give any representation other than these particulars in relation to this property. Intending Purchasers/Tenants take the property as they find it. 3. Graham & Sibbald are not authorised to enter into contracts relating to this property. These particulars are not intended to nor shall they form part of any legally enforceable contract and any contract shall only be entered into by way of an exchange of correspondence between our client’s Solicitors and Solicitors acting for the Purchaser/Tenants. 4. All plans based upon Ordnance Survey maps are reproduced with the sanction of Controller of HM Stationery. 5. A list of Partners can be obtained from any of our offices.
