PRIME EDINBURGH TOWNHOUSE OPPORTUNIT Y EDINBURGH

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Lionel Shepherd
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1 PRIME EDINBURGH TOWNHOUSE OPPORTUNIT Y 46 M E LV I L L E S T R E E T EDINBURGH Two interc onne c ting, inc ome pro ducing tow nhous e s w ith the b enef it of full re si denti a l pla nning p er mis sion

4 6 MELVILLE STREET EDINBURGH Two interlinked townhouses in Edinburgh s prestigious West End Suitable for office occupier or residential conversion Full residential planning permission in place for

parking spaces Offers in the region of 3 million exclusive of VAT Location Edinburgh is a UNESCO World Heritage Site and major tourist destination.

It has a population of approximately 498,000 and a regional catchment of around 1.6 million people.

2 4 6 MELVILLE STREET EDINBURGH Two interlinked townhouses in Edinburgh s prestigious West End Suitable for office occupier or residential conversion Full residential planning permission in place for conversion to six flats Short term income of 136,000 per annum exclusive to Scottish Public Services Ombudsman until 7th September 2018 Total Net Internal Area (NIA) 6,860 sq ft Six unrestricted car parking spaces Offers in the region of 3 million exclusive of VAT Location Edinburgh is a UNESCO World Heritage Site and major tourist destination. It is Scotland s capital city, a key political, legal and judicial centre and is the second largest financial centre in the UK. It has a population of approximately 498,000 and a regional catchment of around 1.6 million people. The city has a diverse economy with more FTSE 100 companies located there than any other city in the UK outside of London. Edinburgh is a global financial city with around 500 billion of funds under management, ranking it as the eleventh largest fund management centre in the world. The city has major financial institutions including Royal Bank of Scotland, Lloyds Banking Group, Virgin Money, Tesco Bank and Aberdeen Standard Investments. The city has four major universities serving over 100,000 students. This is attributable to Edinburgh s workforce being amongst the most highly educated in the UK with 56% holding a degree or professional level qualification. One of Edinburgh s key strengths is the range of technology companies in the city, many of which are now globally recognised. These include the likes of Rockstar Games, FanDuel and Skyscanner. Edinburgh has a booming international airport, it is Scotland s largest and also the fastest growing in the whole of the UK. There are now 200 direct routes from Edinburgh including North America and Canada, the Middle East and throughout Europe. The city has 3.5 million tourists visit it every year and is the second most visited city in the UK after London. Furthermore, the Edinburgh Festival Fringe attracts tourists every year for the world s largest arts festival, adding an estimated 245 million to the local economy.

Situation Melville Street is one of Edinburgh s premier office and residential addresses. It is situated at the western edge of Edinburgh s historic New Town and was constructed around 1825.

It is also enviably located for access to public transport, with the nearest tram stop only a 2-minute walk providing regular services to Edinburgh Airport, making it an ideal location for office

Haymarket railway station is a short distance away linking Edinburgh with local and national rail services.

The properties are Category A listed and are located on the south east side of Melville Street, close to the junction with Queensferry Street.

3 Situation Melville Street is one of Edinburgh s premier office and residential addresses. It is situated at the western edge of Edinburgh s historic New Town and was constructed around Melville Street is situated within a 5-minute walk of Charlotte Square and the west end of Princes Street. It is also enviably located for access to public transport, with the nearest tram stop only a 2-minute walk providing regular services to Edinburgh Airport, making it an ideal location for office occupiers. There are also regular bus services within the immediate vicinity providing access to all parts of the city. Haymarket railway station is a short distance away linking Edinburgh with local and national rail services. Description 4 6 Melville Street comprises two attractive mid-terraced townhouses under a pitched slate and flat felt roof. The townhouses are interlinked on every floor. The properties are Category A listed and are located on the south east side of Melville Street, close to the junction with Queensferry Street. The accommodation is situated over lower ground, ground, first and second floors and to the rear there are six clear car parking spaces. The rear car park can be accessed from the basement and also from ground floor. The space has been maintained by the existing tenant to a good standard and is arranged to comprise a mix of offices and meeting rooms. Period features such as intricate cornices and cupolas have been retained. There is a lift in the building serving all floors. In addition, there are tea prep / kitchen facilities and toilets on every floor. The properties are located in the heart of the west end, which offers a wide range of shops, bars, boutiques, cafes and restaurants. These include Indigo Yard, L Petit Folie, Pizza Express, Starbucks, Fox & Co and Caffé Nero. There are a number of high profile neighbouring office occupiers including The Scottish Government, Barclays Wealth, Artemis Fund Managers and the Japanese, Russian and Italian Consulates. 1. Queensferry Street (A90) 2. Queen Street 3. George Street 4. Princes Street 5. Charlotte Square 6. Waverley Train Station 7. Edinburgh Castle 8. The Royal Mile 9. Edinburgh University 10. Melville Street 11. Atholl Place (A8) 12. The Exchange District MELVILLE STREET

Ground Floor First Floor Second Floor Total 1,671 sq ft 1,662 sq ft 1,759 sq ft 1,769 sq ft

4 SVP 2/3 SVP 1 Accommodation The subjects have been independently measured in accordance with the RICS Code of Measuring Practice (6th Edition) and the areas are as follows: Lower Ground Floor Ground Floor First Floor Second Floor Total 1,671 sq ft 1,662 sq ft 1,759 sq ft 1,769 sq ft 6,860 sq ft EXISTING LOWER GROUND FLOOR EXISTING GROUND FLOOR EXISTING FIRST FLOOR EXISTING SECOND FLOOR

EXTERNAL TERRACE CELLAR 1 CELLAR 2 CELLAR 3 CELLAR 4 CELLAR 5 Area 3.7m² Area 7.5m² Area 44.7m² Area 21.3m² Area 21.5m² Area 9.6m² Area 2.8m² Area 42.5m² Area 11.4m² To combined sewer Area 2.

5 EXTERNAL TERRACE CELLAR 1 CELLAR 2 CELLAR 3 CELLAR 4 CELLAR 5 Area 3.7m² Area 7.5m² Area 44.7m² Area 21.3m² Area 21.5m² Area 9.6m² Area 2.8m² Area 42.5m² Area 11.4m² To combined sewer Area 2.6m² Area 6.5m² Area 13.3m² Area 3.6m² PRIVATE STAIR TO Plot 04 ON 2ND FLOOR Area 5.7m² Area 32m² Area 6.9m² Area 21.1m² Area 2.8m² TERRACE Area 3.6m² Area 46.9m² Area 11.8m² To combined sewer EXTERNAL TERRACE Area 32m² Area 2.6m² Area 6.1m² Area 13.4m² PRIVATE STAIR TO Plot 06 Area 43.9m² toughened glass protective barrier to 800mm above ffl to comply with BS EN & PD Area 2m² Area 16.2m² Area 43.3m² min 300 Plot 04 CAR PARK [APPROX. 6No. SPACES] Area 9.4m² Area 17.2m² toughened glass protective barrier to 800mm above ffl to comply with BS EN & PD Area 16.9m² Area 10.4m² VOID ENTRANCE PLAT VOID ENTRANCE PLAT Area 28.4m² Area 52.7m² Area 2.3m² Area 5.3m² min300 Area 22.9m² Area 12.1m² Area 6.9m² Area 44.1m² Area 11.3m² Area 8.3m² Area 13.4m² Plot 06 Area 8.3m² Area 10m² Tenancy The property is let to the Scottish Public Services Ombudsman on a lease expiring 7th September 2018 at a rent of 136,000. It is likely that the tenant will extend this lease for a short period of time. Further information is available to interested parties. Edinburgh Townhouse Office Market Demand from businesses for Edinburgh townhouse office space remains strong from a wide range of sectors. There have been a number of lettings in the West End that have shown rents in excess of 20 per sq ft. The supply of townhouse offices has decreased the number of townhouses which have been converted to residential use. As a result there is increased demand for the remaining supply, putting positive pressure on office townhouse rents. Residential Conversion Full planning permission is in place for conversion to residential use. Detailed information can be found at citydev-portal.edinburgh.gov.uk and the planning application is 17/01822/FUL. The planning permission allows for: 2 X 2 BEDROOM BASEMENT FLATS (1,270 AND 1,356 SQ FT) WITH CONTEMPORARY REAR EXTENSIONS 1 X 1 BEDROOM (850 SQ FT) 1 X 2 BEDROOM (904 SQ FT) GROUND FLOOR FLATS EXISTING OUTHOUSE WINE ST WINE ST STORE STORE WC Plot 05 HALL HALL Plot 03 Plot 01 Plot 02 ENTRANCE HALL ENTRANCE HALL St. St. 1 X 4 BEDROOM FIRST & SECOND FLOOR FLAT (2,691 SQ FT) 1 X 3 BEDROOM SECOND FLOOR FLAT (2,530 SQ FT) ST BEDROOM 03 BEDROOM 04 WC POD KITCHEN Plot 04 Plot 06 KITCHEN LIVING / DINING LIVING / DINING BEDROOM 03 Total net sellable area 9,601 sq ft

EPC 4 6 Melville Street has an EPC rating of D.

If the property is still let at the point of sale then it is envisaged the transaction being treated by way of a Transfer of a Going Concern (TOGC).

PROPOSAL Our client is seeking offers in the region of 3 million exclusive of VAT. Elliot Cassels 07968 196212 elliot.cassels@montagu-evans.co.

co.uk 0131 226 0333 The Agents for themselves and for the vendors or lessors of this property whose agents they are give notice that: (i) the

of, an offer or contract; (ii) all descriptions, dimensions, reference to condition and necessary permissions for use and occupation, and other

6 EPC 4 6 Melville Street has an EPC rating of D. VIEWING AND FURTHER INFORMATION Viewings must be arranged in advance through the joint selling agents: VAT The property is VAT elected. If the property is still let at the point of sale then it is envisaged the transaction being treated by way of a Transfer of a Going Concern (TOGC). If the property is sold with vacant possession to convert to residential, then we would anticipate submitting a certificate to dis-apply the option to tax, so no VAT would be payable. In the event that the buildings are sold with vacant possession for continued office use, VAT will be payable on the purchase price. PROPOSAL Our client is seeking offers in the region of 3 million exclusive of VAT. Elliot Cassels elliot.cassels@montagu-evans.co.uk Struan Whyte struan.whyte@montagu-evans.co.uk Andrew Shiells ashiells@lsh.co.uk Kirsty Henderson khenderson@lsh.co.uk The Agents for themselves and for the vendors or lessors of this property whose agents they are give notice that: (i) the particulars are set out as a general outline only for the guidance of the intended purchasers or lessees and do not constitute, nor constitute part of, an offer or contract; (ii) all descriptions, dimensions, reference to condition and necessary permissions for use and occupation, and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them; (iii) no person in the employment of the Agents has any authority to make or give any representations or warranty whatever in relation to this property. April 2018.

FOR SALE Well Let Retail Investment In Affluent Scottish Suburb

FOR SALE Well Let Retail Investment In Affluent Scottish Suburb 191 & 193 Brook Street, Broughty Ferry DD5 2AG Offers over 545,000 (6.50% NIY) Sheridan Property Consultants Executive summary: Let to TCTT