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).
- 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%.