(Lot 1), Orwell Terrace, Edinburgh, Midlothian, EH11 2DY

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Available as an individual lot or as part of a wider portfolio

Lot 1: 14 & 18 Orwell Terrace, Edinburgh

22 apartments: 4 one-bed and 18 two-bed

13 let on Scottish Assured Shorthold Tenancies and 9 let on Assured Tenancies

Annual Gross Income: £147,240

Annual ERV: £160,880

Scottish Feuhold (equivalent of English Freehold)

LOCATION
The properties are located on Orwell Terrace off Dalry Road, approximately 1 mile west of Edinburgh city centre. Edinburgh is the capital city of Scotland and benefits from one of the most robust economies in the UK centered on financial services, tourism, and higher education.

The properties are excellently positioned to access the commercial centre of Fountainbridge and Edinburgh city centre, whilst the Dalry Road offers a host of local leisure/retail facilities. Transport in the area is well served by regular bus routes, and rail links from Edinburgh Haymarket Railway station, approximately 0.4 miles away.

DESCRIPTION AND ACCOMMODATION
Arranged within two stairs of 14 and 18 Orwell Terrace, comprising 4 one bed apartments and 18 two bed apartments, the properties benefit from off street parking.

EDINBURGH RENTAL MARKET
Edinburgh benefits from a robust rental market, average rents in the area range from £496pcm for a one bed property to £640pcm for two bed properties, indicating scope for rental uplifts for these properties.

TENANCY INFORMATION
13 of the properties (11 two beds and 2 one beds) are let on Scottish Assured Shorthold Tenancies, with the remaining 9 (7 two beds and 2 one beds) are let on Assured Tenancies, producing £147,240pa. The properties are underented and offer potential for asset management, Rettie & Co's Lettings & Management team note an ERV of £160,880.

PROPERTY MANAGEMENT
Actively managed by Lothian Homes since 2007, they would be keen to continue with the management of these properties on behalf of the purchaser.

Links

http://www.rettie.co.uk/development/pfp