- Rare opportunity to purchase four interconnecting townhouses located in Edinburgh city centre.
- The property situated within the affluent West End area and lies within close proximity to Haymarket Train Station and other local travel connections.
- Eglinton Crescent is Grade B listed and set within the New Town Conservation Area.
- Heritable Interest
- Comprises 73 bedrooms arranged over lower ground, ground and three upper floors
- Let in its entirety to Travelodge Hotels Limited on a full repairing and insuring lease expiring on 10th July 2042
- Landlord right to extend the lease by a further 9 years from 10th July 2042 to 10th July 2051.
- The unexpired term is therefore approximately 25 years.
- Category A listed Travelodge.
- The current rent of £571,017 per annum reflects a low rate of £7,822 per room.
- The lease is subject to uncapped RPI linked rent reviews with the next rent review due on 11th July 2027.
- Minimum guaranteed reversionary yield of 7.07% prior to any further growth expected October 2026 – June 2027.
- Forecasted RPI index of 435.5 would take the reversionary yield to 7.30% in July 2027.
- Strong underlying vacant possession value, estimated to be circa 92% of investment value.
We are seeking offers in excess of £9,400,000 which would provide a net initial yield of 5.69%, a low capital value per room of £128,767 and £271 sqft.