1 Carmichael Place Edinburgh EH6 5PH

1 Carmichael Place
Edinburgh
EH6 5PH

Heritable Multi Let Modern Office Investment

Located close to Edinburgh City Centre
Modern office building in a mixed use area
Future residential potential (subject to consents)
Occupiers include Siemens Plc, Changeworks and Warm Works Scotland
On-site car parking
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
12
Auction
8th December 2016
Rent
£110,115 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Heritable Multi Let Modern Office Investment

Located close to Edinburgh City Centre
Modern office building in a mixed use area
Future residential potential (subject to consents)
Occupiers include Siemens Plc, Changeworks and Warm Works Scotland
On-site car parking
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 12
Auction 8th December 2016
Rent £110,115 per Annum Exclusive
Status Sold Prior
Price
Sector
Office
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 1.5 miles from Edinburgh city centre
Roads: B900 (Broughton Road), A1
Rail: Edinburgh Waverley Station
Air: Edinburgh Airport (15 miles to the west)

Situation

Carmichael Place is located to the north east of Edinburgh city centre close to Broughton Road one of the main routes from Leith to the city. The area is predominantly residential but there are a number of mixed uses in the immediate vicinity including trade counter, retail and leisure uses. Carmichael Place is a modern residential and office development.

Tenure

Heritable. (Scottish equivalent of English Freehold).

Location

Miles: 1.5 miles from Edinburgh city centre
Roads: B900 (Broughton Road), A1
Rail: Edinburgh Waverley Station
Air: Edinburgh Airport (15 miles to the west)

Situation

Tenure

Heritable. (Scottish equivalent of English Freehold).

Description

The property comprises a modern office building comprising office accommodation at ground and four upper floors. There are a large number of car parking spaces within the Carmichael Place development to be used by all occupiers. The property may benefit from future residential potential (subject to the necessary consents).

VAT

VAT is applicable to this lot.

Viewings

Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Mhairi Jarvis. Telephone: +44 (0)131 552 5191.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

Viewings

Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Mhairi Jarvis. Telephone: +44 (0)131 552 5191.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Unit	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
Ground Floor	1	Office	54.44 sq m	(586 sq ft)	CLAN GORDON LIMITED	From 20/06/2011 (1) (holding over)	£6,000
Ground Floor	1a	Office	28.98 sq m	(312 sq ft)	CLAN GORDON LIMITED	1 year from 01/01/2016 (1)	£3,120	31/12/2016
First Floor	2	Office	99.21 sq m	(1,068 sq ft)	CHANGEWORKS RESOURCES FOR LIFE	11 years from 18/09/2009	£16,050	17/06/2020
First Floor	3	Office	99.40 sq m	(1,070 sq ft)	CHANGEWORKS RESOURCES FOR LIFE	11 years from 18/09/2009	£13,900	17/06/2020
Second Floor	4	Office	99.59 sq m	(1,072 sq ft)	DEUTSCHE WINDTECHNIK LIMITED	4 years from 03/06/2013 (2)	£11,000	14/05/2017
Second Floor	5	Office	99.31 sq m	(1,069 sq ft)	CHANGEWORKS RESOURCES FOR LIFE	6 years from 13/01/2014	£13,920	12/06/2020
Third Floor	6a	Office	32.05 sq m	(345 sq ft)	EUPHORION COSMETICS LIMITED	1 year from 15/02/2016	£4,200	14/02/2017
Third Floor	6b	Office	54.34 sq m	(585 sq ft)	CONNECT COMMUNICATIONS PUBLICATIONS (SCOTLAND) LIMITED	4 years from 16/09/2015	£7,000	10/01/2019
Third Floor	7a	Office	23.87 sq m	(257 sq ft)	CSQ CONSULT LIMITED	3 years from 16/11/2015 (3)	£3,125	18/06/2018
Third Floor	7b	Office	55.64 sq m	(599 sq ft)	CSQ CONSULT LIMITED	6 years from 18/06/2012 (3)	£6,900	18/06/2018
Fourth	8	Office	99.40 sq m	(1,070 sq ft)	SIEMENS PLC (4)	5 years from 29/01/2016	£11,000	28/01/2021
Fourth	9	Office	98.66 sq ft	(1,062 sq ft)	WARM WORKS SCOTLAND LLP	5 years from 03/05/2016	£13,900	02/05/2021
Total			844.89 sq m	(9,095 sq ft)			£110,115

(1) RPI linked rent review. There is a two month rolling break option.
(2) The seller is holding a £1,170 rent deposit.
(3) The lease provides for a tenant option to determine the lease on 18/06/2017.
(4) The lease provides for a tenant option to determine the lease on 29/01/2019. Siemens are entitled to 12 months’ rent free if they do not exercise the 2019 tenant option to determine.
Note: Interested parties should refer to the legal pack for detail of the repairing obligations for all tenants.