Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

I accept the confidentiality agreement I accept the confidentiality agreement

Attributes

Tenure Type Freehold
Building Area

Property Description

The property comprises 8 standalone warehouse blocks of steel portal frame construction, finished externally in a combination of brick work and profiled metal sheeting. The roofs are pitched in style and clad in profile metal sheeting with approximately 10% translucent panels.


The blocks generally provide an eaves height of 6 metres. 36 King’s Haugh, Block D, Phase 2 is 8 metres. All units benefit from yardage and parking facilities.


The total site area extends to approximately 3.17 Ha (7.84 acres).

Investment Highlights

  • A rare opportunity to acquire a prime multi-let industrial estate in Edinburgh.
  • Prestonfield Park is centrally located approximately 2 miles to the south east of Edinburgh city centre with excellent road links and accessibility to Edinburgh’s city bypass.
  • The estate comprises 8 standalone blocks encompassing 11 modern industrial and trade counter units, extending to a total of 99,835 sq ft.
  • Let to a variety of strong covenants including Edinburgh City Council, Howdens, St Andrews Timber and City Plumbing Supplies with a WAULT of 4.3 years to expiry (3.8 years to break).
  • Passing rent of £765,334 per annum (inclusive of guarantee) equating to a low average passing rent of £7.62 psf on the contracted income.
  • Market Rental Value of £809,522.75 per annum (£8.11 psf).
  • Strong performing industrial occupational and investment markets.
  • No short term requirement for capital expenditure.
  • Heritable interest (Scottish equivalent of English freehold).

 

Offers in excess of £12,480,000 (Twelve Million, Four Hundred and Eighty Thousand Pounds Sterling) reflecting a NIY of 5.75% and RY of 6.08% assuming purchasers’ costs of 6.71%.

Last Updated Date: 17 Aug 2020
Ben Gamble
Ben Gamble
Director - National Investment
Janey Douglas
Janey Douglas
Associate, Capital Markets

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Last Updated Date: 17 Aug 2020

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