128-130

High Street, Musselburgh, East Lothian, EH21 7EA

Offers In Excess £385,000

  • Single let retail investment
  • Property extends to a Net Internal Area of 2,061 sq ft (191.49 sq m)
  • EPC Rating A
  • 2 Years Term Certain
  • Let to TSB Bank PLC until 23rd May 2027
  • Passing rent of £40,000 per annum exclusive
  • Offers in excess of £385,000 exclusive
  • Net Initial Yield of 10.01%, reflecting a capital rate of £187 psf

LOCATIONMusselburgh is located on the coast of the Firth of Forth approximately 7 miles to the East of Edinburgh and is easily accessed via the A1 and A720 Edinburgh City Bypass. Musselburgh further benefits from a rail link and regular bus service.The subjects are situated in a prominent position on the south side of Musselburgh, High Street - the town’s main retail parade. Surrounding occupiers include national and local retailers including Costa Coffee, Greggs and B&M.DESCRIPTIONThe property comprises the ground floor retail / banking unit of a four-storey stone building with traditional pitched slate roof. The upper floors are residential and not included in the subjects for sale.The subject property benefits from glazed double retail frontage and both front and rear access, with the rear fire escape providing access to two car parking spaces. The current fit out was installed by the tenant and is arranged in a traditional basic banking format including a front customer area and meeting rooms, counter and service area with security screen, and rear office and ancillary staff areas. The unit has a suspended ceiling and air conditioning system.TENANCY-Tenant: TSB Bank PLC (SC095237)- Lease Start: 24 May 1992- Lease Expiry: 23 May 2027- Rent: £40,000 pa- Repair Obligation: Full Repairing and Insuring