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Summary
- Musselburgh ranked 9th in The Sunday Times ‘best places to invest in the UK’ 2024
- Prominent town centre retailing pitch
- Let to B&M Retail Limited
- Highly secure income – Pre-Tax Profits £430 million
- Tenant committed to a new lease in September 2023
- Rebased rent at £62,500pa (previous rent £75,000pa)
- Heritable interest (Scottish equivalent of English freehold)
- £660,000, subject to contract
- 9.0% Net Initial Yield
Location
Situated on the east coast of Scotland, Musselburgh is an historic market town and the largest in East Lothian. It is well known for its racecourse and being home to the oldest golf course in the world.
Musselburgh is located 9.6 km (6 miles) from Edinburgh, making it a popular commuter town. The A1 by-passes the town and meets the A720 Edinburgh City Bypass at the edge of town before continuing to Edinburgh city centre. The A199 goes through the High Street to Edinburgh in the west and to Dunbar in the east. The town is also connected to the national railway network with a journey time to Edinburgh of only six minutes.
Musselburgh has been ranked 9th in The Sunday Times ‘best places to invest in the UK’ dated 22nd March 2024. The Times identified 25 locations in the UK that are improving the most and are new property hotspots. Musselburgh was named best place for capital growth.
Situation
The property is located in the heart of the town centre, occupying a prominent position on the High Street. Surrounding occupiers include Costa, Greggs, Ladbrokes and Cancer Research UK.
Description
With an extensive frontage onto High Street, the property comprises a large ground floor retail unit with storage to the rear and ancillary/staff accommodation at first floor. Internally, the retail floor area has been fitted out by the tenant to their usual corporate style.
The property benefits from a rear area for deliveries which is accessed via Millhill.
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