Size Approx. 54,941 sq ft (NIA)
Price Offers over £15,600,000
- Edinburgh PRS Investment Opportunity
- 85 apartments
- 28 parking spaces
- Approx. 54,941 sq ft (NIA)
- Current gross annual income – £986,640 pa (100% let) with a net income of £871,582 pa
- Current operational expense (OpEx) of 11.66% of gross income
- Located in an established residential area with local amenity
- Approx. 1.7 miles from Edinburgh city centre
- Excellent transport links
- Technical information available in the Data Room
- Viewings by appointment only – contact us for details
- Joint agency with Cushman & Wakefield
- Offers over £15,600,000 are sought for the property, gross of standard purchaser’s costs, which equates to a gross yield of 5.59% and is based on the net income of £871,582 per annum.
The property is situated in the Saughton area of the city, a popular and well-established residential area with excellent local amenities. It is 1.7 miles west of Edinburgh city centre.
The area is seeing an increasing number of developments, such as West Edinburgh Retail Park, which is within a 15 minute walk, and includes an M&S Food Hall, Aldi and Costa; and a new 359 bed hall of residence for The University of Edinburgh students. The strength of the location has recently been proven with Watkins Jones submitting a planning application to redevelop the Corn Exchange to 840 residential units, 434 BRT and 406 PBSA, just 0.5 miles north of the property.
In close proximity there are local shops and restaurants, as well as a 24-hour ASDA and an M&S Food Hall. Recreational facilities nearby include Saughton Park, the O2 Academy (formally the Corn Exchange) with World of Football, ten pin bowling, Nuffield Health Club, Pure Gym and Craiglockhart Sports Centre. Accessibility to Embankment West is excellent. Balgreen tram stop is approximately 500 meters north and provides a regular service into the city centre, Edinburgh Park and Edinburgh Airport. Gorgie Road (A71), which runs alongside the property, provides direct access to the city centre and Edinburgh Bypass. The bus service which runs along with A71 provides 24-hour access to the city centre. The closest train stations are Slateford (0.5 miles) and Haymarket (1.7 miles), which provide regular service to Glasgow and across Scotland, respectively.