CKD Galbraith, the Scottish independent property consultancy, has sold a rarely available industrial investment at 10-11 Royal Park Place, Edinburgh EH8 8HZ to a private individual for £460,000.
The investment deal for the small industrial estate was made on behalf of Robert Hunter & Sons and reflects a net initial yield of 10.63 per cent.
Comprising seven units each varying in size from 438 sq ft to 1,766 sq ft, the estate extends to 7,291 sq ft.
The single-storey units, which offer roller shutter access directly to Royal Park Place, are let to six tenants in local vehicle and motor trade, including Edinburgh Pedicabs.
Located in central Edinburgh, the estate is close to Meadowbank Sports Centre, Abbeyhill Industrial Estate and the Meadowbank Retail Park.
Said Ian Forbes, investment agency associate at CKD Galbraith: “This type of investment rarely comes to market in Edinburgh, particularly as there is a real shortage of small lockup workshop units of this size available within Edinburgh city centre, which has resulted in proven occupier demand over a number of years.
“At this property in particular, management is relatively simple as tenants are contained within their own units and any vacant units have been let without the appointment of agents in recent years.
“As CKD Galbraith is very active in the Edinburgh industrial and workshop market we understood this type of investment and were able to target purchasers who could appreciate the opportunity.”
-Ends-
Notes to Editor
- The net initial yield is calculated after standard purchasers costs.
Issued by JK Consultancy on behalf of CKD Galbraith. For further information please contact: Jenny Kumar on 07989 5571989 or email jenny@jkconsultancy.com
CKD Galbraith is an independent property consultancy specialising in serving the needs of clients. It employs over 200 people in offices in Edinburgh, Stirling, Perth, Cupar, Inverness, Aberfeldy, Castle Douglas, Ayr, Elgin, Galashiels, Kelso and Peebles.
The firm provides the full range of property consulting services across the commercial, residential, rural and renewable energy sectors throughout Scotland. The company enjoys a successful relationship with its associate firm in London, CKD Kennedy Macpherson.
CKD Galbraith’s commercial arm delivers partner-led commercial property intelligence across a range of services, including property and asset management, professional services, investment consultancy, sales, lettings and acquisitions, project co-ordination, facilities management and building surveying.
To find out more about CKD Galbraith visit www.ckdgalbraith.co.uk or follow us on Facebook: facebook.com/ckdgalbraith and Twitter: twitter.com/ckdgalbraith.
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Contact: Jenny Kumar
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Email: jenny@jkconsultancy.com
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