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Royal Elizabeth Yard, Dalmeny, South Queensferry, EH29 9EN

190132 sq ft
Ross Burnett

Partner, Investment

0131 221 2483
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Property Details

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.
 

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