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Retail Units & Shops

Lothian

Edinburgh

property

Let

598 Lanark Road, Juniper Green Lanark Road, Edinburgh, EH14 1TL

Use Class

Size

6,169 sq ft

Rent pa

POA

Price

£1,525,000

Market Sector

High Street Scheme

Key Features

Prominent and busy location in the Edinburgh suburb of Juniper Green.
Property extends to 6,169 sq ft GIA on a site of 0.43 acres
Let to Iceland Foods Limited until 27/02/2030 subject to a break option in 2025
Heritable interest
Current rent of £83,000 p.a. (£14.23 per sq ft) with guaranteed minimum uplifts to £86,409 in 2020 and £97,764 in 2025
Strong redevelopment potential in the long term, subject to securing planning consent
Offers in excess of £1,525,000 (One Million Five Hundred and Twenty Five Thousand Pounds Sterling), reflecting a Net Initial Yield of 5.34%, assuming standard purchaser’s costs and LBTT and that the vendor “tops up” the rental income to £86,409 from date of sale, until the next rent review

Description

The subject property is a purpose built, standalone, single storey supermarket premises built in the 1980’s on a site extending to 0.43 acres/0.16 hectares.

The structure would appear to be of steel frame construction with elevations formed in facing brick, the exception being the Lanark Road frontage which is partly glazed and incorporates the tenant’s facia and a canopy. The roof is formed in 3 double pitched and hipped sections, each with a slate finish.

The remainder of the site comprises a tarmac surfaced yard area used for loading purposes and also providing 24 marked customer car parking spaces. Access is taken directly off Lanark Road.

NB – there is a right of way running along the western boundary from Lanark Road to the bowling club to the rear of the site.

Internally the property is arranged to provide retail sales accommodation along with ancillary storage, plant, office and staffareas including WCs. The property has a Net Internal Area of 5,834 sq ft and a Gross Internal Area of 6,169 sq ft.

Location

Located to the west of Edinburgh, Juniper Green is considered an attractive and affluent suburb of the city. The area is well served by the A70 Lanark Road which forms an arterial route to the city centre via Slateford and Kingsknowe and further west, through Juniper Green to Currie and Balerno.

The immediate Juniper Green area has a local population of 4,000 and is designated a Conservation Area. The catchment population within a 5 minute drive time increases to 9,900.

The property occupies a central location within Juniper Green, on the northern side of Lanark Road between its junctions with Juniperlee to the east and Juniper Avenue to the west.

The level site is roughly square in shape.

Accommodation

6,169 Sq.Ft

Disclaimer

All the above information and descriptions (whether in the text, plans or photographs) are given in good faith but should not be relied upon as being a statement of representation or fact. Any areas, measurements or distances referred to are approximate only.