The subjects comprise a former detached house which has been extended to the rear & converted into a veterinary surgery. The accommodation is arranged over the ground & first floor of a brick build, part externally rendered property. Internally the property comprises of a reception area, numerous operating theatres, a pharmacy, stores, staff room, office space & WC facilities. Externally the property benefits from parking for up to 6 cars & landscaped grounds to the front of the property
Location
The property is situated on the west side of Hillhouse Road block bound by Columba Avenue to the north & Columba Road to the south within the bustling Blackhall district of Edinburgh. Hillhouse Road is an extremely busy thoroughfare servicing vehicles travelling from the Queensferry Crossing into Edinburgh city centre. Blackhall is an affluent neighbourhood comprising a mixture of residential and commercial occupiers, popular with both national and local traders including, Lindsay + Gilmour Pharmacy, Papa Johns, Fine Fellas & Home Help Me Care
Accommodation
Ground Floor 138.0 sq m (1486sq ft )
First Floor 41.62 sq m (448sq ft )
TOTAL 180.0sq m ( 1,934sq ft )
Terms
Lease The property is currently let on an FRI basis to CVS (UK) Ltd until 12 October 2029 at £51,250 per annum, payable quarterly in advance with no further rent reviews or break options.
Price Our client is seeking offers in excess of £650,000 reflecting a NIY of 7.51 %, assuming purchaser's costs of 4.98%.
Rateable Value The subjects are entered in the current Valuation Roll at a rateable value of £34,900 which results in approximately a £17,380 rates liability. Please note, a new tenant or occupier of a property has a right to appeal this rateable value within 4 months of the beginning of the tenancy agreement and this property may also be applicable for small business rates relief.
Prospective purchasers/lessees must satisfy themselves independently as to the incidence of VAT in respect of any transaction. October 2024
Energy Performance Certificate An Energy Performance Certificate is available upon request.
VAT Unless otherwise stated, all prices, premiums and rentals are quoted exclusive of VAT.
Specification
- Offers over £650,000
- Passing rent of £51,250 per annum
- Attractive Net Initial Yield of 7.51% FRI lease expiring 12 October 2029
- Rare investment opportunity in highly sought-after neighbourhood
- Potential for residential conversion