SHEPHERD Chartered Surveyors is offering a significant property investment and development opportunity for sale. Located within the heart of Leith, two miles north of Edinburgh city centre, the imposing Category B Listed townhouses represent a rare opportunity to acquire an entire block with large parking provisions and planning potential.
The traditional Georgian town house accommodation with modern extensions let to leading rural chartered surveyors and property consultants Smiths Gore and Royal Haskoning, one of Europe’s leading project management, engineering and consultancy providers, is located on the north side of Bernard Street between its junctions with Constitution Street to the east and The Shore to the west.
As such, it lies on the main thoroughfare through the Leith area and at the main junction into the Forth Ports area.
For sale are two main blocks of traditional town houses extending to 16,214 sq ft in total. The first, at 6/10 Bernard Street, is a three storey and attic mid terraced stone built town house comprising open plan and cellular office accommodation with parking for 14 cars available to the rear.
The second, at 12/18 Bernard Street, is a three storey end terraced stone built town house with an extensive single storey extension to the rear at ground floor level comprising open plan offices on ground floor with cellular accommodation on the upper floors with parking for 28 vehicles to the rear.
Ian Hannon, managing partner at Shepherd, said: “In addition to representing a rare opportunity to acquire an entire block with large parking provisions, architects have opened up pre-application discussions with the City of Edinburgh Council and have intimated a number of alternative uses may be applicable for the buildings and car park.
“They have drawn up indicative plans which show a conversion of the main townhouses to 15 (one, two and three-bedroom) residential dwellings, demolition of the rear extension of number 12/18, a new residential block to the rear and allowances for affordable housing.
“The accommodation’s current configuration represents an extremely low capital value of £86 per sq ft and we are seeking offers in excess of £1,400,000, reflecting a net initial yield of 11.3 per cent.”
Interested parties should contact Ian Hannon on 0131 225 1234.
For further information please contact Ian Hannon Tel: 0131 225 1234
Issued on behalf of Shepherd by Liquorice Media tel 0141 561 4018 www.liquorice-media.com
Date 6th November 2012