The subjects comprise an entire self-contained Category A listed mid terraced Georgian Townhouse building of solid stone construction under pitched and slated roof deck. The accommodation is arranged over the lower ground, ground, and three upper floors and comprises cellular office space with relevant tea prep and WC facilities. The offices are currently tenanted and have been fitted out to a high standard throughout. There are also two remote vacant garages at Chester Street Lane and Lyndoch Place Lane capable of accommodating one & two cars respectively.
Location
Melville Crescent is the focal point of Edinburgh’s West End, situated mid way along Melville Street at its junction with Walker Street. The subject property is predominantly situated within the north east quadrant of Melville Crescent where surrounding properties comprise a mix of consular and professional occupiers.
The Scotland office and Japanese Consulate lie opposite whilst other occupiers within Melville Street include the consulates of Italy, Russian Federation and Taipei.
Other professional occupiers include Johnston Carmichael, Thorntons, Close Brothers and Strutt & Parker. In addition, a large number of townhouses have now been converted to residential use.
Accommodation
We have calculated the net internal area of the subjects to extend to approximately 521.90 sq m (5618 sq ft) or thereby.
Lower Ground Floor - 96.89m² 1043 ft²
Ground Floor - 93.64m² 1008 ft²
First Floor - 109.06m² 1174 ft²
Second Floor - 109.25 m² 1176 ft²
Third Floor - 113.06m² 1217 ft²
Total - 521.90m² 5618 ft²
The above areas, which have been calculated from site measurements, have been calculated on a net internal area basis in accordance with the Sixth Edition of the RICS Code of Measuring Practice & as per stated within the leases.
Terms
SALE PRICE - We have been instructed to seek offers in excess of £1,350,000 for the freehold heritable interest on the property.
TENANCIES - The ground and lower ground floors are occupied by George and Co Scotland Ltd on a short term lease due to expire on 30 May 2017 at a passing rental of £27,093 per annum (this includes a car space to the rear.)
The first floor is occupied by E S Noble & Co until 13 June 2017 at a passing rental of £18,358.40 per annum.
Part of the second floor is occupied by International Resources Ltd until 13 June 2017 at a passing rental of £8921.28 per annum and the other part of the second floor leased by Clear Peak Capital LLP and will expire on the 10 April 2019 with a break on the 10 April 2017 at a rental of £9,888 per annum.
The third floor currently lies vacant.
The garages are currently vacant.
Specification
- Approximate Internal Area: 521.90 sq m (5,618 sq ft)
- Highly sought after Georgian Townhouse in Edinburgh West End
- Includes one space to the rear and two remote car garages
- Currently generating rental income of circa £65,000 per annum.
- Seeking offers in excess of £1,350,000