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The Opportunity
The subjects comprise 2 x retail units, corner and mid-terraced, forming part of a larger tenement styled building. Internally both units are arranged over ground floor and basement with the basements interconnecting. Externally both units benefit from modern aluminum framed shopfronts providing excellent display space.
Internally the subjects provide well-fitted sales accommodation at ground floor level with welfare facilities found to the rear of each. The basements of each unit are currently used as a repair and service work shop together with storage and staff WCs / kitchen tea preps.
Offers over £325,000 are invited which reflects a net initial yield of 8.88% after allowing for purchaser’s costs of 3.79%.
Location
The subject property is located within the popular residential area of Canonmills which is situated less than ¾’s of a mile north of the city centre immediately next to the New Town. Rodney Street is a main arterial route that connects with Broughton Street to the north and is only a 10 minute walk from the new 1.7 million sq ft St James’s Centre development within the heart of the city centre.
More specifically the subject property is situated the east side of Rodney street at the corner of Herriot Hill Terrace where neighboring occupiers include The Beer Hive, Ravenstone Property and The Marshamllow Lady.