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AGENT'S DETAILS


Princes Exchange & New Uberior House, Edinburgh, Midlothian, EH3, Edinburgh, Midlothian, EH3, EH3 9BN

For sale: POA|158501 Sq Ft|Office, Offices

PROPERTY DETAILS

FOR SALEPOA
SIZE158501 Sq Ft
ADDRESSPrinces Exchange & New Uberior House, Edinburgh, Midlothian, EH3, Edinburgh, Midlothian, EH3, Edinburgh, EH3 9BN
TYPEOffice, Offices
TENUREInvestment Opportunity
POSTED ON29th September 2020

DESCRIPTION

Prime Edinburgh office investment - Princes Exchange and New Uberior House were developed in 2000 and provide 14,749.8 sq m (158,501 sq ft) of prime city centre Grade A office accommodation.

Internally, the buildings provide flexible open plan office accommodation.

Investment Summary:
- Rare opportunity to acquire a well let office investment in
Edinburgh, one of the UK’s most sought after investment locations;
- Two adjoining prominent prime office buildings located within The
Exchange District in the heart of the city centre;
- Entirely let to the undoubted covenant of Bank of Scotland PLC, a
wholly owned subsidiary of Lloyds Banking Group, on full repairing
and insuring terms;
- Unexpired term in excess of ten years;
- The buildings offer flexible Grade A office accommodation totalling
14,725 sq m (158,501 sq ft) with 175 secure parking spaces;
- Total passing rent of £4,203,834 per annum, which equates to
£24.59 per sq ft;
- Prime office rents within Edinburgh have grown rapidly to £37 per
sq ft, due to the marked supply and demand imbalance which
currently exists;
- Upcoming rent review in December 2020 provides an opportunity
to increase the rent;
- The tenant has a 100% payment history for the buildings – in full
and on time;
- Easily fundable asset which will generate attractive cash on cash
returns, further details available on request;
- Heritable interest (Scottish equivalent of English Freehold);
- The properties are held in a Jersey domiciled SPV.

LOCATION

Location: Princes Exchange & New Uberior House, Edinburgh, Midlothian, EH3, Edinburgh, Midlothian, EH3, Edinburgh, EH3 9BN

Haymarket (0.5 miles)

Edinburgh Waverley (0.8 miles)

Edinburgh Park (1.8 miles)

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