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Investment For Sale: 60 High St Musselburgh - PRIME RETAIL PROPERTY

For sale: POA|919 Sq Ft|Residential, Retail, Office, Retail - High Street, Offices

PROPERTY DETAILS

FOR SALEPOA
SIZE919 Sq Ft
ADDRESS60 High Street, EH21 7BX
TYPEResidential, Retail, Office, Retail - High Street, Offices
TENUREInvestment Opportunity
POSTED ON28th May 2019

DESCRIPTION

Town Centre Location
Extensive Refurbishment
“Sweet Haven” Dessert Parlour
10year F.R.I. Lease
Passing Rent: £16,000per annum
3 yearly Rent Reviews
£190,000 (G.I.Y of 8.4%)

Location
The subjects are situated on the main thoroughfare of Musselburgh, a popular commuter town close to Edinburgh City Centre.The subjects are situated at a main junction in the town centre of Musselburgh at High Streets junction with Newbigging close to the Musselburgh Race Course.

Subjects
The subjects comprise an extensive ground floor retail premises within a commercial parade with residential dwellings above. Lighting is provided by way of halogen spot lights recessed within the ceiling, floors are overlaid by ceramic tile. The subjects have been divided into 2 main sections with main sales area to the front, with office, w.c. and staff tea prep facilities situated to the rear of the demise.

Area
The subjects have been measured on a Net Internal Area basis offering the following;

85.4sqm (919sq ft)

Investment

The subjects are let by way of a Full Repairing and Insuring lease on the following terms:

Tenant: New Ltd Company
Term: 10 years from 1st May 2018 - 30th May 2028
Tenant Break: 5th Anniversary providing not less than 3 months notice
Rent Reviews: 3yearly cycles
Deposit: A deposit of £4,000 is held by the landlord

Tenant Info: The tenants trade as “Sweet Haven” a dessert and sweet boutique with a current trading business in Tranent. The tenants have invested in excess of £30,000 into their refurbishment of the subjects and following discussion and visiting the subjects, trades very well.

Price

£190,000 Representing a Gross Initial Yield of 8.4% before purchasers costs.

V.A.T.

The subjects have not been elected for V.A.T.

Documentation

Copies of the lease, deposit agreement & E.P.C. are available on request.

Legal

Each party shall bear their own legal costs incurred in the transaction.

Viewing

The subjects can be viewed during opening hours however no discussion or approach is to be made directly to the tenant

LOCATION

Location: 60 High Street, EH21 7BX

Musselburgh (1.1 miles)

Wallyford (1.2 miles)

Newcraighall (1.7 miles)

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