retail high street
Ref 13633

139 Princes Street

139, Princes Street
EH2 4BL Edinburgh

To buy£2,750,000
Size3,419 ft² / 318 m²
Initial yield5%

Description

Prime High Street Retail Investment Opportunity

Investment Summary

  • Edinburgh is Scotland's capital city and Europe's 4th largest Financial Centre.
  • Prime retail investment located on Princes Street which boasts Edinburgh's highest footfall with over 12 million people per year.
  • Let to Edinburgh Woollen Mill (D&B Rating 5A1) until 30th April 2028 following a lease extension.
  • Prime retail unit arranged over ground and basement floors extending to a NIA of 3,419 sq ft.
  • Current passing rent of £155,000 per annum which equates to a Zone A rate of 142.73 per sq ft.
  • Rents on Princes Street have recently reached in excess of £250 per sq ft Zone A.
  • Heritable Tenure (Scottish Equivalent of English Freehold).

Offers in excess of £2.75 million are sought for our client's heritable interest in the property, subject to contract and exclusive of VAT.

A purchase at this level would provide a net initial yield of 5.30%, assuming purchaser's costs of 6.38%.

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Energy rating

Energy rating G

Location and Transport