104 Market Street

• Opportunity to acquire a long income trade counter investment.
• Located in Musselburgh’s town centre, approximately 6 miles east of Edinburgh city centre.
• Modern trade counter / industrial unit extending to approximately 27,646 sq ft.
• Let to James Donaldson Group Limited t/a as MGM Timber until 17 November 2039, providing approximately 14 years term certain income.
• Passing rent of £244,500 per annum with 5 yearly RPI linked rent reviews, subject to a collar and cap of 2% & 4%, providing guaranteed rental growth.
• Heritable Interest.
• Offers in excess of £3,530,000 exclusive of VAT.
• Net Initial Yield of 6.50% and estimated reversionary yields of 7.54% in 2029 and 8.74% in 2034.

LOCATIONMusselburgh is located approximately six miles east of Edinburgh city centre and is the largest town in East Lothian. The town has excellent road links to Edinburgh via the A199 Milton Road East, the A1 and also the A720 Edinburgh City bypass which in turn links to Scotland’s wider motorway network. Musselburgh has a population of around 22,000 people, with a wider catchment population of approximately 1 million people within a 30-minute drive time.SITUATIONThe subjects are situated in Musselburgh town centre at the west end of Market Street in close proximity to the junction with North High Street(A199). Average weekly footfall in the Musselburgh town centre is more than double any other town in East Lothian.The surrounding area is a mix of residential and commercial with occupiers in the immediate vicinity such as Aldi, Lidl, Home Bargains, Iceland, Shell and Farmer Autocare. There are a number of new housing developments in Musselburgh including developments by Persimmon Homes, Barratt Homes and Taylor Wimpey.DESCRIPTIONThe property comprises a modern industrial building with high quality showroom / trade counter within a secure, self-contained site. In addition, there is a separate standalone warehouse unit at the south-western corner of the site. The unit is of steel portal frame construction with brick work walls and profile metal cladding above under a two-bay pitched roof incorporating translucent roof panels and concrete floor. The unit benefits from a minimum eaves height of 5.90m rising to 6.90m at the apex. Vehicular access is provided via two level access doors. Externally, the premises benefit from a large secure concrete yard with a depth of approximately 28m in addition to car parking to the northern elevation, totalling 28 spaces. The unit benefits from a canopy on the southern elevation. TENANCYThe property is let to James Donaldson Group Limited t/a MGM Timber on FRI terms, subject to a schedule of condition, until 17 November 2039. The current passing rent is £244,500 per annum, which devalues to £9.50 per sq ft on the warehouse, £4.75 per sq ft on the canopy and £6.75 per sq ft on the warehouse in the south west corner of the site. The lease provides an upwards only rent review in line with the change in RPI on 18 November 2029 and 18 November 2034, subject to a cap and collar of 2% and 4%.TENANT COVENANTJames Donaldson Group Limited is a long established company which was founded over 100 years ago. The group operates across the UK and is one of the largest independent timber and building products groups in the country. The company employs over 1,700 people across their 11 businesses. For the year ending September 2024 James Donaldson Group Limited reported a turnover of over £301 million and a net assets of over £38 million. Their Experian Rating is 91/100. Further information is available at: www.donaldson-group.co.uk