Prime Serviced Apartment Block in Edinburgh City Centre
A rare opportunity to acquire a prime serviced apartment block in Edinburgh City Centre. 10 Young Street is situated in the heart of Edinburgh City Centre within a minute’s walk of George Street and Princes Street. 31 luxury apartments and 10 secure car parking spaces. Operated by Fountain Court via a Partnership Agreement on behalf of GSS Developments expiring on 31 May 2019. The GSS Share of EBITDA for the last 3 years is as follows:
31 May 2015 – £494,564 per annum
31 May 2016 – £494,281 per annum
31 May 2017 – £564,836 per annum 3
Year average GSS Share of EBITDA is £517,894 per annum.3 options exist on purchase:
Enter into a new agreement at lease expiry with Fountain Court
Appoint an alternative operator when the current partnership agreement expires on 31 May 2019
Obtain vacant possession from date of purchaseHeritable Interest (Scottish equivalent of Freehold).
We are seeking offers in excess of £7,400,000 for our client’s heritable interest. Assuming the 3 year average GSS Share of EBITDA of £517,894 per annum, a purchase price would reflect a net initial yield of 6.60% after assuming purchase costs of 6.17%.
Grade A office space available for immediate occupation.
Shawfair Park is strategically located adjacent to Edinburgh City Bypass, the A1 and a short distance from Dalkeith town centre as well as the Shawfair stop of the Borders Rail Link The Business Park benefits from the employment advantages of Edinburgh, Midlothian and East Lothian which provide a very strong, highly educated labour pool and is easily accessible from Edinburgh City Centre. Phase 1A of Shawfair Park provides three high quality pavilion style office buildings. The accommodation has been designed to address the increasing level of demand from occupiers who are seeking high quality premises in an attractive business environment with very good transport links. In addition, a sustainable approach has been taken in the design and development of the buildings which is reflected in the “Very Good” BREEAM rating for the offices. The accommodation is available to let or for sale.
High profile entrances Quality external materials A “Very Good” BREEAM Rating Raised access flooring Eight person passenger lift Suspended ceilings Flexibility to incorporate comfort cooling Efficient, easily space planned floorplates Quality WC facilities throughout A high quality Park environment Excellent parking provision and ease of access to public transport
Strictly by appointment by the joint agents.
JLL Hotels & Hospitality Group are delighted to offer for sale one of the UK's largest independent serviced apartment platforms.
A unique opportunity to purchase a portfolio of serviced apartments located in strategic locations across Central Edinburgh.
- 169 apartments (271 bedrooms) providing a mixture of studios, one, two and three bedroom apartments
- Located in strong residential areas underpinning the property values of the portfolio
- Increasing demand for the serviced apartment sector across Europe as it continues to capture market share from hotels
- Edinburgh is a strategic hub for leisure and commercial activity making it one of the leading hotel and serviced apartment markets in Europe