Refurbishment project in Leith

Going under the hammer is this exciting refurbishment project in Great Junction Street, in the ever popular Leith area of Edinburgh. A maisonette flat, over first and second floors, the accommodation comprises, on the entry level, two bedrooms, large dining kitchen and bathroom. The upper level offers a large lounge with private balcony off. Further benefits include ample storage, residents parking and communal area to rear. A fantastic discount of 20% against the Home Report valuation of £175,000, allied with a great opportunity to add value through refurbishment works, is sure to attract interest from both investors and owner occupiers. Rental investors will be drawn to the potential post works rental income in excess of £11,000 per annum (LHA levels), with strong levels of rental demand in the area suggesting that even better returns may be available. Properties with such potential, and so keenly priced, are rare in this area. Early viewing is essential to avoid missing out on this outstanding opportunity. Council Tax Band: B. Comparables 203/1 Great Junction Street, Sold For £290,000, 11/23 205/6 Great Junction Street, Sold For £245,300, 08/23

Tenure

Freehold

Area

Leith, Edinburgh is a hugely popular and vibrant location offering a wide range of local amenities including bars, cafes and restaurants, with Ocean Terminal shopping centre boasting high street retail brands alongside a 24 hour gym and multiplex cinema. Edinburgh city centre is just two miles to the south west and is easily reached by regular public transport and road links. Edinburgh airport is served by a direct bus link, and the tram line extension works will serve Leith and provide even better links to the city centre and airport. Excellent schooling is nearby providing all education levels from nursery through to secondary levels.

Energy Efficiency Rating (EPC)

Current Rating C

Local Authority

Edinburgh City Council

Additional Fees

Administration Charge - 3.6% inc VAT of the purchase price, subject to a minimum of £3600 inc VAT, payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.