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Description

  • Status: Available
  • Type: Commercial
  • Ownership: Freehold
  • Occupation: Tenanted

INCOME PRODUCING INVESTMENT. Tenanted retail premises located on a busy parade 146.35 Sq.M (1,575 Sq.Ft). Currently producing £25,000 p.a on a FRI lease until 2044. Rent review every 5 years.

SUPER TRADING POSITION on a corner plot with highly visible frontage. Internally the premises have been fitted out to a high standard in accordance with the tenants specifications.

PRIME INVESTMENT PROPERTY in excellent trading position on busy shopping street *** PERFECT ADDITION TO ANY PORTFOLIO *** with excellent yield producing £25,000 per annum on a long lease.

Internally the property comprises, main customer servery to the front, with open plan food prep area and partitioned stores, office and staff facilities to the rear.

EXCELLENT trading position located on busy retail parade. Neighbouring occupiers include Nationwide, Timpsons, M&S Foodhall and Superdrug

INCOME PRODUCING INVESTMENT *** Tenanted ground floor retail premises located on a busy parade 146.35sqm (1,575sq ft). Currently producing £25,000pa on a FRI lease until 2044. Rent review every 5 years. The rent will have a minimum uplift of 1% pa compounded annually and a maximum uplift of 15% at review. SUPER TRADING POSITION on a corner plot with highly visible frontage. Internally the premises have been fitted out to a high standard in accordance with the tenants specifications. PRIME INVESTMENT PROPERTY in excellent trading position on busy shopping street. **PERFECT ADDITION TO ANY PORTFOLIO** with excellent yield producing £25,000 per annum on a long lease. Internally the property comprises, main customer servery to the front, with open plan food prep area and partitioned stores, office and staff facilities to the rear. EXCELLENT trading position located on busy retail parade. Neighbouring occupiers include Nationwide, Timpson, M&S Foodhall and Superdrug.

The property is situated on the west side of Morningside Road at its junction with Millar Crescent in the affluent suburb of Morningside in Edinburgh Morningside is a charming and affluent residential area in the south of Edinburgh, Scotland. Known for its vibrant community and picturesque streets, it offers a mix of urban living with a touch of suburban tranquility. Morningside is popular among families, partly due to its proximity to some of Edinburgh's best schools, both public and private. Morningside Road is well-served by public transportation, with several bus routes providing easy access to the rest of Edinburgh. The area is also pedestrian-friendly, with wide sidewalks and tree-lined streets.

Full Address: 336 Morningside Road, Pizza Hut, Morningside, Edinburgh, EH10 4QJ

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 20 years
Rent: £25,000 per year / £2,083 per month
Yield: 7% (approx)
Tenant: Company
Notes: Held On F.R.I Lease T/A Pizza Hut (Tenant Operates 17 Franchises Across Scotland) Expiry: July 2044 Passing Rent: £25,000p.a.x Reviews Every 5yrs (Minimum % Uplifts)

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Pricing Information & Bidding

Opening Bid: £351,000

What is an Opening Bid? This property is entered into an online auction where the bidding will start or open at the above price. Unless specified all properties are subject to a Reserve (minimum acceptable price).

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SPECIAL Terms of Sale

  • 10% Deposit
  • Buyers Fee = 3% of Sale Price (Minimum £3,250 + vat)
  • 4 Weeks Completion or Longer By Agreement
  • Contribution to Sellers Costs £2,750 for on time settlement

VIEW THE GENERAL TERMS OF SALE which are superseded by any special conditions detailed above.

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Auction Details

Date & Time: 05 December 2024, 10am-3pm
Type: Timed Online Auction

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