Details_48 48a Frederick Street_Feb16

48, 48A Frederick Street &
Hill Street Lane South
• OUTSTANDING CITY CENTRE
INVESTMENT OPPORTUNITY
• TENANTS INCLUDE BRORA &
BERKETEX BRIDE
• HIGH QUALITY RETAIL
LOCATION
• REAR CAR PARKING
EDINBURGH EH2 1EX
FOR SALE
Retail
Investment
48, 48A Frederick Street &
Hill Street Lane South,
EDINBURGH
Location
Edinburgh is the capital of Scotland and a World Heritage city. Current
residential population is approximately 500,000 and a catchment in
excess of 1.5 million. The city is the administrative and financial capital
of Scotland.
A diverse local economy with a wide range of business services including
an international centre for banking, and an internationally renowned
centre for universities including Edinburgh University and Heriot Watt
University.
Edinburgh is an all year round centre for tourism with events including
the annual Edinburgh International Festival, Edinburgh Fringe and New
Year celebrations.
The city has excellent communications with links by road and rail to all
major cities. Edinburgh International Airport is a fast growing airport
with regular services to London and a number of major European
destinations.
Situation
The subjects are situated on the west side of Frederick Street, between
George Street and Hill Street. The Goad trader’s plan shows the
location in red colour.
The location is attractive to upmarket retailers including Pakeman Cato
Carter, Charlie Miller, Toni & Guy, Café Rouge and Eteaket.
This location benefits from the proximity of George Street, the most
popular location for quality retailing in Scotland, including outlets for
Hollister, Fat Face and Laing Jewellers nearby.
Description
Lease
The buildings are of a traditional stone built construction under pitched
and slated roofs.
The subjects are let to two retailers, a double garage and car space. The total rent roll is £82,500 pa. For ease of reference a
table with tenancy and rental details are shown below:-
The shops comprise ground and basement premises to front, plus
extensions to rear.
The property comprises two traditional shops trading as Brora and
Berketex Brides, a double garage let to Hamilton & Inches and an open
car space let to R&G International Trading.
Accommodation
Address
ITZA
Lease Start
Lease Exp
Break
Options
Rent (£)
Zone A (£)
Next Rent
Review
48 Frederick St
829
04.06.09
03.06.29
05.06.24
46000
55.49
04.06.19
48A Frederick St
470
13.01.06
13.01.21
-
28500
60.63
14.01.16
3 Hill St Lane
-
25.11.99
30.11.02
-
6000
-
-
3B Hill St Lane
-
03.08.09
09.08.14
-
2000
-
-
48 Frederick Street – Brora
Gross Frontage
4.94m
16.3ft
Ground Floor Sales
97.80 sq m
(1053 sq ft)
Company
Creditsafe Rating
Basement Stores
99.60 sq m
(1072 sq ft)
Brora Ltd
67 (low risk)
Upper Floor Rear Staff/
Office
14.80 sq m
(159 sq ft)
Bridal Fashions Ltd (T/A Berketex Brides)
9 (high risk)
TOTAL
212.20 sq m
(2284 sq ft)
Hamilton & Inches Ltd
67 (low risk)
ITZA
829
R&G International Trading Ltd
30 (moderate risk)
Covenants
Plans
48A Frederick Street – Berketex Brides
Layout plans are available.
Gross Frontage
3.59m
11.9ft
Ground Floor Sales
48.70 sq m
(524 sq ft)
The property is Category B Listed and is located within Edinburgh New Town Conservation Area.
Basement Stores
48.60 sq m
(523 sq ft)
TOTAL
97.30 sq m
(1047 sq ft)
Tenure
ITZA
470
Planning
Heritable (Scottish equivalent) of Freehold.
Investment Considerations
3 Hill Street Lane South – Hamilton & Inches
• 2 lock up garages.
3B Hill Street Lane South – R&G International Trading Ltd
• Single car space
•
The city centre is a dynamic and diverse area for both office occupiers and retailers;
•
Low supply of retail investments in city centre;
•
All year round strong trading, supported by high levels of visitors throughout the year;
•
Strong growth potential - prime George Street is £175 ZA
Opportunity
This is a rare opportunity to acquire quality retail space and car parking within the
city centre.
The shops provide elegant space, well configured for fashion and fashion related
merchandise.
Proposal
We are instructed to seek offers in excess of £1.2 million.
We estimate that a purchaser at this level will provide a net initial yield of 6.5%
after purchaser’s costs.
Energy Performance Certificate
Address
EPC Rating
48 Frederick Street
G
48a Frederick Street
G
48 Frederick Street
48a Frederick Street
VAT
We are advised that the subjects are not registered for VAT.
Viewing & Further Particulars
Apply Sole Selling Agents. Strictly by appointment only.
David Matthews
Links CPC
16 Forth Street
EDINBURGH EH1 3LH
Tel: 0131 550 3779
Email: [email protected]
Car space & double garage, Hill Street Lane North
Details prepared:
February 2016
MISREPRESENTATION
Links CPC LLP give notice to anyone who may read these particulars as follows
1 These particulars are prepared for the guidance only of prospective tenants or purchasers. They are intended to give a fair overall description of the property but are not
intended to constitute part of an offer or contract.
2 Any information contained or referred to herin(whether text plans images) is given in good faith but should not be relied upon as being a statement of representation
of fact.
3 Nothing in these particulars shall be deemed to be that the property is in good condition, or otherwise, nor that any services or facilities are in good working order.
4 The images appearing in these particulars show only certain parts of the the property at the time when the images were taken. Certain aspects may have changed since
the images were taken and it should not be assumed that the property remains precisely as displayed in the images. Furthermore no assumptions should be made in respect
of parts of the property which are not shown on the images.
5 Any areas ,measurements or distances referred to are approximate .
6 Where there is reference in these particulars to alterations being carried out ,or that a particular use is made of any part of the property, this is not intended to be a
statement that any necessary planning ,building regulations or other consents have been obtained and these matters should be checked by an intended tenant or purchaser.
7 Descriptions of property are subjective and the descriptions herein are given in good faith as an opinion and not as a statement of fact.