Forth Street, Edinburgh, Midlothian, EH1 3LE

SOLDOffers Over £4,500,000



Description

Two connected City Centre office investments with outstanding redevelopment potential.
• Superb city centre location – approx. 350 metres from Edinburgh St James (completion 2020).
• Significant underlying vacant possession value.
• Potential redevelopment uses include: residential, office, hotel, serviced apartment, student housing.
• Combined NIA approx. 2,216 sq.m (23,853 sq.ft).
• Combined GIA approx. 3,471 sq.m (37,371 sq.ft).
• Combined Passing Rent: £299,176 p.a.
• Combined Passing Rent incl. ERV: £313,226 p.a.
• Offers over £4.5m (exclusive of VAT).
• Net Initial Yield (NIY) of 6.27% (based on purchasers costs of 6.03%).
• Capital rate of approx. £188.66 per sq.ft.

FORTH HOUSE, 11-17 Forth Street, Edinburgh:
• Category B listed townhouse office.
• NIA approx. 1,168 sq.m (12,572 sq.ft).
• GIA approx. 1,644 sq.m (17,701 sq.ft).
• FRI lease to Forth FM expiring 2022 (tenant break option in June 2020).
• Passing rent: £159,600 p.a.

PLAYFAIR HOUSE, Broughton Street Lane, Edinburgh:
• Modern office.
• NIA approx. 1,048 sq.m (11,281 sq.ft).
• GIA approx. 1,827 sq.m (19,670 sq.ft).
• FRI leases to multi tenants expiring in June 2022 (mutual break options June 2020).
• Passing Rent: £139,576 p.a.
• 20 unrestricted and 4 restricted car spaces.


EPC - Forth House = D
EPC - Playfair House = D

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Closing Date Information

Closing Date letter (pdf 282KB)