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Two retail investment deals in Edinburgh
On behalf of a private client, Ryden has successfully sold two retail investments in Edinburgh for a combined total of over £400,000.
The first unit, at 41-43 Great Junction Street, was acquired by a private investor for £280,000, reflecting a net initial yield of 7.25%. The 1,520 sq ft unit is let to Ladbrokes until May 2026 and generates a passing rent of £21,000 per annum. The lease was re-geared to provide a 15 year term with a break in year 10. Stephen Gunn of Gunn Property Consultants acted on behalf the purchaser.
In the heart of Edinburgh’s Exchange District, the ‘Copy Stop’ shop at 22-22a Morrison Street was purchased by private company for £130,000, reflecting a net initial yield of 11.4%. The property, extending to 970 sq ft, has a total passing rent of £16,000 per annum with lease expiry in November 2017 and tenant break in November 2012.
Search through the retail investment properties in Edinburgh that we are currently marketing http://www.ryden.co.uk/
Notes to Editors
Ryden is an independent commercial property firm operating a full-service practice. Service lines include Agency & Development, Investment & Finance, Professional, Building Consultancy, Property Management and Consulting.
The firm is headed by Fiona Morton, Managing Partner and has around 140 people, including 29 partners and 24 associates.
Ryden has offices in Edinburgh, Glasgow, Aberdeen, Leeds, Dundee and Inverness.
Some recent awards include:
• Property Week’s Industrial Agency Team of the Year (Scotland) 2009
• EGi’s Most Active Agent in Scotland 2010
• EGi’s Most Active Industrial & Distribution Agent in Scotland 2010
• EGi’s Most Active Office Agent in Scotland 2010
For more information see http://www.ryden.co.uk
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Ryden is the largest independent commercial property consultancy in Scotland and the North of England. We have 33 Partners and over 140 staff across six offices in Edinburgh, Glasgow, Aberdeen, Leeds, Dundee and Inverness.