FOR SALE Rare Multi-let Industrial Investment 244 – 256 Causewayside, EH9 1UU 1.5 miles from Edinburgh City Centre

• Comprising a terrace of 7 units extending • WAULT of 6 years and 11 months to expiries to a total of 23,362 sqft (5 years and 9 months to breaks) • Site area of approximately 0.94 acres • Good prospects for rental growth and • Leased to tenants including Pufferfish Ltd, underlying residential/alternative use potential Kiltane Retail Ltd and Recycle to Cycle • Offers over £2.1M reflecting a net initial • Total current passing rent of £165,288 pa yield of 7.41% (allowing for purchasers costs and LBTT)

Edinburgh Glasgow Aberdeen Leeds Manchester London 0131 225 6612 0141 204 3838 01224 588866 0113 243 6777 0161 249 9778 020 7436 1212 EDINBURGH CITY CENTRE

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CAUSEWAYSIDE A701 NEWINGTON RD AD SA Y RO LA ERR M F AN DE R ST RE ET Links

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LOCATION RD BELLO ORTO Edinburgh is the capital city of and home to the LON P DON P RD O . It has an estimated population of Calton Hill R TO 513,200 people increasing to 1.36million within the Edinburgh B EL LO city region. This is projected to increase by 20% over the HI MOU GH next 20 years making it one of the UK’s fastest growing cities. W NTC S IL RIGHTAS OF ACCESS T L TL OW E B D • Edinburgh is the UK’s largest financial centre outside EDINBURGH D R R A R OD YRO E N London with over £500bn of assets under management CITY CENTRE HOL R . SIR O HARRY L and headquarters of Virgin Money, Aberdeen Standard, A AUD D ER R Baillie Gifford and RBS. Holyrood Park D

• Home to key technology companies such as ST CLERK ST D. E ON R Computershare, Skyscanner, Rockstar North, Cirrus D MILT A A1 O ILTON RD R M Logic, Fanduel, Craneware and FMZ. N O ST A1 • A major centre for education with 8 universities and G IN further education colleges and over 80,000 UK based Meadow Park DUDD MEL VILL and international students. E DRIVE A1 L The city is also recognised as; P RY U ISB D • A global centre for tourism with over £4.5bn generated SAL A M L K I N E from international visitors in 2017. I GRANGE RD T T O H

• The host city for the world’s largest arts festival S R T D (International and Fringe Festivals) attracting c.4 million C A visitors a year and generating over £313M in 2017. U S E • A city with a high quality of life and bright future; rated W A A 7 Y first in FDI Strategies (Global City of the Future). 0 S 1 I D Edinburgh benefits from excellent connectivity locally, E Indicative title plan nationally and internationally due to continued investment in its transport infrastructure.

Ordnance Survey © Crown Copyright 2019. All Rights Reserved. Licence number 100022432 SITUATION DESCRIPTION Plotted Scale - 1:1250. Paper Size - A4 The subjects are located on the south side of Edinburgh 244-256 Causewayside comprises a terrace of 7 approximately 1.5 miles from the city centre. Causewayside industrial units originally constructed in c. mid 1970s. forms one of the main arterial routes into and out of the The units benefit from a minimum eaves height of city. The property lies on the west side of the street and is approximately 4m and onsite parking. Recent works bounded by Kittle Yards (office development) to the north undertaken to the property include but are not limited and BP filling station / National Tyres centre to the south. to the following; The surrounding area comprises a mixture of predominantly • Resurfacing of car park, access roads and relining office, retail and residential uses. There are a wide range of of parking bays local amenities supporting some of the city’s most affluent • Over-cladding of Units 246 and 252 residential areas of The Grange, Newington and Marchmont. The site sits behind a block of residential flats (Street Significant occupiers locally include Historic Environment Nos 214 – 242 Causewayside) and access/egress is either via a pend to the north of this block or the main Scotland, Edinburgh University, The Scottish Law Commission entrance to the south adjacent to BP filling station. and National Library of Scotland.

ACCOMMODATION AND TENANCY Area EPC Option Unit Tenant Lease Start Next Review Date Next Break Lease Expiry Rent pa Rent psf Comments sqft Rating to tax 244 Causewayside 2,607 E Recycle to Cycle 07/01/2009 25/08/2021 N/A 24/05/2026 £18,000 £6.90 Common charge capped at £1,450 pa No (running at £1,415). Schedule of condition attached to lease. 246 Causewayside 2,475 E Kiltane Retail Ltd 28/06/2019 N/A 28/06/2022 27/06/2024 £20,500 £8.28 New 5 year lease with TBO at 3 and Yes schedule of condition. No rent free. Schedule of condition attached to lease. 248 Causewayside 3,242 E Shamin Rahman 01/09/2009 01/09/2022 N/A 30/09/2029 £18,000 £5.55 Common charge recovery within lease No agreement. Schedule of condition attached to lease. 250 Causewayside 2,564 E+ Recycle to Cycle 25/06/2006 25/08/2021 N/A 24/05/2026 £18,000 £7.02 Common charge capped at £1,450 pa No (running at £1,391). Schedule of condition attached to lease. 252 Causewayside 3,290 F Pufferfish Ltd 04/02/2019 04/02/2024 04/02/2024 03/02/2029 £26,500 £8.05 Recent lease variation and extension. Yes No common charge cap. Schedule of condition attached to lease. 254-256 Causewayside 9,184 E & F+ Kiltane Retail Ltd 04/12/2015 04/12/2020 N/A 03/12/2025 £64,288 £7.00 Common charge capped at £5,051 pa Yes (running at £4,984). Schedule of condition attached to lease. TOTAL 23,362 £165,288 £7.08 COVENANT warranty whatever inrelationto thisproperty.November 2019. should not relyonthemasstatements orrepresentations offactbutmust satisfythemselves byinspectionorotherwise astothecorrectness ofeachthem; (iii)nopersoninthe employmentofMessrs Rydenhasanyauthority tomakeorgive anyrepresentationor lessees, anddonotconstitute, norconstitutepartof,anoffer or contract;(ii)alldescriptions,dimensions, referencetoconditionandnecessary permissionsforuseandoccupation, otherdetailsaregivenwithoutresponsibility andanyintendingpurchasersortenants Ryden isalimitedliability partnershipregisteredinScotland.Messrs Rydenforthemselvesandvendors orlessorsofthispropertywhoseagents theyaregivenoticethat:(i)theparticulars aresetoutasageneraloutlineonly fortheguidanceofintendedpurchasers or a Transfer of aGoing Concern. anticipated thetransaction can betreated as VAT. The remainder of theunits are. Itis Units 244, 248 and250 are not elected for VAT purchaser’s costs andLBTT of 6.25%. net initialyieldof 7.41% allowing for usual of £2.1M exclusive of VAT representing a We are instructed to invite offers inexcess PROPOSAL equivalent of Englishfreehold). Ownership interest/heritable (Scottish TENURE request. previous reconciled budget isavailable upon A copy of theService Charge Budget and dealt withaspertheirlease agreement. charge withtheexception of unit248. This is Common expenditure isrecovered viaservice MANAGEMENT /COMMONCHARGES Pufferfish Ltd t/a Curry Lovers Shamin Rahman Kiltane Retail Ltd Recycle To Cycle TENANT www.pufferfishdisplays.com N/A www.kiltane.com www.thebikestation.org.uk WEBSITE ADDRESS 0131 473 3210 [email protected] Hamish Rankin 0131 473 3233 peter.i’[email protected] Peter I’anson T: 0131 473 3223 [email protected] Nick Armstrong Square, Edinburgh EH38AN Ryden LLP, 7Exchange Crescent, Conference viewing please contact thesole selling agent: For information further orto arrange a FURTHER INFORMATION parties. be provided by theselling agent to interested A dataroom hasbeensetup andaccess can DATAROOM 96/100 N/A 76/100 39/100 RATING CREDITSAFE CATEGORY CREDITSAFE Very low risk N/A Very low risk Moderate risk 30/09/18 N/A 31/12/18 31/03/18 ACCOUNTS DATE OFLATEST TURNOVER N/A N/A £14,207,705 £799,166 WORTH NET £444,855 N/A £9,961,823 £26,584 DESCRIPTION/PRINCIPLE ACTIVITY Information technology service activities. N/A Retail sale of clothing inspecialised stores. protect andpreserve theenvironment for the publicbenefit. the publicinsafe use of bicycles andtheirrepair andto cycling asameans of transport to advance theeducation of promotion of goodmental andphysical health through A registered charity engagedintheencouragement and

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