High Yielding CMO Unit

We are delighted to present to auction this high yielding and immaculately presented CMO (Commercial Multiple Occupancy) unit, centrally located in the East Lothian town of Musselburgh. The unit extends over three floors, with a total floor area of approximately 260 sq. metres, and comprises a total of 12 offices of varying sizes. All Units are occupied by a diverse range of business types, with the exception of Units 7 and 10, producing a total income of £52,620 per annum which represents an attractive gross yield of 10.6% at guide price. Once fully occupied, the potential rental income will increase to approximately £62,700 per annum. The overall unit also offers communal reception and breakout areas, kitchen facilities, private rear parking and 24-hour access. The units are currently being professionally managed by a local agent at 15%+VAT of rental income, and discussion is ongoing regarding longer Licence terms, with all tenants indicating a desire to remain. This exciting investment property in prime location represents an attractive addition to an existing commercial portfolio, but could equally be of interest to those looking for their first venture into the increasingly popular CMO investment sector. VAT NOTICE: The property is subject to an existing Option to Tax for VAT purposes. The sale may qualify as a Transfer of a Going Concern (TOGC), subject to the relevant conditions being satisfied. Prospective purchasers should take independent professional VAT advice and make their own enquiries regarding the VAT treatment of the transaction.

Tenure

Freehold

Area

Musselburgh is a popular coastal town in East Lothian, situated approximately six miles east of Edinburgh city centre. The town benefits from a wide range of shops, supermarkets, cafés, restaurants and leisure facilities. The area is well served by transport links, with regular rail services to Edinburgh and excellent road connections via the A1 and city bypass. Nearby attractions include Musselburgh Racecourse, the River Esk and scenic coastal walks.

Local Authority

East Lothian District 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.