Colliers International has purchased the new Sainsbury's Local store in Deanhaugh Street, Stockbridge, Edinburgh on behalf of a private investor for £850,000, representing a net initial yield of 5%. The store, which was previously a Victoria Wine outlet, is let until June 2021 at a current rent of £45,000 per annum, due to be reviewed in June.
John Buchanan, Director of Commercial Lease Consultancy with Colliers International, said: “The property is in a prime location, within a sought after part of Edinburgh and the long-term lease makes this an attractive investment.”
Graham and Sibbald acted for the vendor.