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RPI LINKED, FREEHOLD, GROUND RENT INVESTMENT WITH 160 YEARS UNEXPIRED

For sale: POA|Retail

Property details

FOR SALEPOA
ADDRESSGranton Retail Park, 65 West Harbour Road, Edinburgh EH5 1PW
TYPERetail
TENUREFor Sale Freehold
POSTED ON22nd February 2024

Description

Prime position on Edinburgh’s Waterfront.
3.25 acres, with a current Class 1 retail warehouse terrace of 57,585 sq ft.
Heritable interest (equivalent of English freehold).
Long lease to Glasgow Angling Centre Commercial Limited for 175 years from 1st August 2008 (circa 160 years unexpired).
Current guaranteed rent of £104,696.82 per annum (representing £1.80 psf) based on RPI calculation to October 2023.
Rent reviews 5-yearly, linked to RPI (collar 0% and capped 4%) annually compounded, with the next on 25th December 2024.
Tenant has a low risk 2A2 D&B rating.
Very low base rent with underlying property used for retail warehousing occupied by Go Outdoors, Glasgow Angling Centre and Food Plus currently producing £363,486 per annum (£6.29 psf).
Significant high rise new build developments adjacent and further consented hotel, marina and residential developments due.
Offers are invited for our client’s Heritable interest.

Location

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Location: Granton Retail Park, 65 West Harbour Road, Edinburgh EH5 1PW

Edinburgh Waverley (2.6 miles)

Haymarket (2.6 miles)

Edinburgh Park (3.2 miles)

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