Royal Elizabeth Yard is strategically situated to the north west of Edinburgh city centre between South Queensferry / Dalmeny and Kirkliston, with good access to the A90 / Forth Bridges, M8 and M9 motorways.
- Prominently located high yielding multi-let industrial investment with future development potential.
- Edinburgh is Scotland’s capital city and main financial/administrative centre, with a population of 487,500.
- The estate extends to approximately 190,132 sq ft of well-maintained 1940’s industrial accommodation arranged over 37 units ranging from 250 sq ft to 19,000 sq ft on a site which extends to approximately 48.1 acres (19.9 hectares).
- With over 1,000 new homes being delivered in the Queensferry location, the site oﬀers future development potential (subject to planning).
- Currently multi-let to 37 tenants producing a gross income of £394,946 per annum.
- The larger units (89% of income) are fully let - elsewhere there is currently a very low vacancy of 2,292 sq ft (1.20%) across the remainder of the estate.
- After the deduction of non-recoverable costs of £28,662, the net income equates to £366,284 per annum.
- The passing gross rent reflects a low average rate of £2.08 per sq ft, oﬀering excellent value to occupiers looking for flexible industrial, storage and oﬀice accommodation in close proximity to Edinburgh and with strong transport connections to west/central Scotland.
- WAULT of 3.2 years (2.7 years to breaks).
- Heritable Interest (Scottish equivalent of English Freehold).
- We are instructed to seek oﬀers in excess of £3,500,000 (Three Million Five Hundred Thousand Pounds), subject to contract and exclusive of VAT for the benefit of our client’s Heritable interest.
- Based upon the net rental income, a purchase at this level would provide a Net Initial Yield of 9.87%, allowing for purchaser's costs of 6.02%. This price reflects a low capital rate of £18.40 per sq ft and £72,765 per acre.