; ; ;

26 and 30 Rodney Street, Edinburgh, EH7 4EA

Retail

Edinburgh

Prominent VAT - Free Retail Investment

2510 Sq ft

Available / Freehold

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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.

Area Summary

No 26

Property Size
55.49 Sq M - 55.49 Sq M
Property Size
598 Sq Ft - 598 Sq Ft

No 30

Property Size
177.57 Sq M - 177.57 Sq M
Property Size
1,912 Sq Ft - 1,912 Sq Ft

Tenure

The subjects are let entirely to TBC Adventure Ltd from 25 May 2006 with expiry due 24 May 2022 at a passing rent of £29,800 per annum (paid quarterly in advance) on Full Repairing & Insuring terms. There is a rent review due on 25 May 2021 and is to the greater of the OMRV or the rent payable immediately prior to the review date.

Edinburgh Bicycle Co-operative, Rodney Street, Edinburgh, UK