Tenanted Commercial Property LOT 37

472 Gorgie Road, Edinburgh, EH11 2RY
OPENING BID

Timed Online Auction

02 December 2021, 10am-3pm

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  • TypeCommercial
  • Ownership Freehold
  • Occupation Tenanted
  • Rateable Value Search SAA

Description

Full Address: 472 Gorgie Road, Edinburgh, EH11 2RY

***SUPERB COMMERCIAL INVESTMENT OPPORTUNITY*** Tenanted unit in located Edinburgh. The property has a gross internal floor area of 522.37 (48.53 sq m).

There is a long standing tenant in the property and it is currently being let to newsagent / grocery store. Excellent passing footfall closed to residential area and very busy Saughton Park.

Currently let on a 15 year lease at the price of 815 per calendar month. This provides an annual rental of 9,780.

Rateable value for this shop is 4,850. Excellent chance for an investor to add a tenant with a long lease to their portfolio.

The property is close to a number of large blocks of flats which provide great footfall. It is an Ideal size an location for a newsagent and tenant not looking to move.

***SUPERB COMMERCIAL INVESTMENT OPPORTUNITY*** Tenanted unit located Edinburgh. The property has a gross internal floor area of 522.37 (48.53 sq m).. There is a long standing tenant in the property and it is currently being let to newsagent / grocery store. Excellent passing footfall closed to residential area and very busy Saughton Park. Currently let on a 15 year lease at the price of 815 per calendar month. This provides an annual rental of 9,780. Rateable value for this shop is 4,850. Excellent chance for an investor to add a tenant with a long lease to their portfolio. The property is close to a number of large blocks of flats which provide great footfall. It is an Ideal size an location for a newsagent and tenant not looking to move. There is also regular mid week and weekend increased footfall from Sport held at Hearts of Midlothian Football Club and Murrayfield National Rugby Stadium, both of which are located within walking distance.

The property is situated in the Slateford area of Edinburgh and is only a short distance from Hearts football stadium. Murrayfield Rugby stadium is also located near by. The city bypass is easily accessible giving access to the M8 and M9 motorway networks and there are regular public transport services, which travel to the city centre and many surrounding areas. Good local schooling can be found at primary and secondary levels, and for further education Napier University campus at Sighthill, Heriot Watt University and Stevenson College are also in the vicinity. Leisure and recreational facilities close by include Edinburgh Zoo, the David Lloyd leisure centre, Carrick Knowe golf course, Saughton sports complex and Saughton Park.

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 15 years
Rent: 9,780 per year / 815 per month
Yield: 10% (approx)
Tenant: Private Individual
Notes: Tenant keen to stay.

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Location

Pricing Information & Bidding

Opening Bid: £76,000

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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Terms of Sale

  • 10% Deposit
  • Standard Completion
  • Buyers Fee = 2.5% of Sale Price (Minimum £2,500 + vat)

* STANDARD TERMS are 4 week completion with 1 week extension. Sellers can request a varied completion and buyers must satisfy themselves prior to bidding.

Auction Details

Date & Time: 02 December 2021, 10am-3pm
Type: Timed Online Auction

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