The Mint Building, St Andrew Square, Edinburgh

An outstanding investment opportunity in the heart of Edinburgh's most prized location
  • The Mint Building offers a rare opportunity to acquire a multi-let, best in class office and leisure investment located on St Andrew Square, Edinburgh’s premier office and leisure location.  The building is let to high quality tenants for over 10 years with an immediate reversion. 
  • The Mint Building extends to a total floor area of 70,467 sq ft over ground and 7 upper floors, of which 59,427 sqft comprises best in class office space, with 11,030 sqft of leisure/retail accommodation. The Mint Building benefits from strong ESG credentials, with an office EPC of A(7), BREEAM rating of ‘Very Good’ and a 100% all-electric office.
  • The building is fully let to four high quality tenants – FNZ, Nationwide Building Society, Franco Manca and Tattu with a weighted average Experian rating of 98/100.
  • Total net annual rent of £2,623,616 p.a. equating to £34.51/sq.ft on the offices and £49.37-£52.13/sq.ft on the restaurant / retail. All leases contain rent reviews in 2024 offering an excellent opportunity to capture substantial immediate reversion of over 15%
  • The building has a WAULT to expiry of 11.7 years and to breaks of 10.2 years with 96% of contracted rent secured for over 10 years. 
  • Offers in excess of £41,000,000 are invited for the benefit of our client’s heritable interest. The property is held in a Luxembourg domiciled SPV and a sale of either the asset or the SPV is available.
  • Assuming an asset purchase the quoting price reflects a net initial yield of 6.00%, headline reversionary yield of 7.3% and a capital rate of £582/sq.ft, assuming purchaser’s costs at 6.77%. 
  • A purchase of the SPV would reflect a net initial yield of 6.3% and a headline reversionary yield of 7.7%, assuming purchaser’s costs at 1.80%. 

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