Buccleuch Property revs up with purchase of Edinburgh showroom

Edinburgh-based Buccleuch Property has boosted its commercial portfolio with the purchase of a car showroom on the east side of the capital for a seven-figure sum.

The property is let to Vertu Motors and includes parking for about 100 vehicles. Picture: contributed.

The firm - which represents the commercial property interests of the Duke of Buccleuch - has snapped up the site at 22 Seafield Road for £2.1 million, reflecting a net initial yield of about 7.15 per cent. The asset comprises 20,000 square feet of showroom and a repair workshop, with parking for about 100 vehicles across the 1.15 acre site.

The property is let to Vertu Motors who operate a Hyundai franchise from the site under its Macklin Motors brand. The lease has a further 4.5 years and the annual rent is £160,000.

Philip Eves, investment director at Buccleuch Property, said the deal complements its ownership in the area at West Telferton.

“We believe this is a strong location with a very well established motor trade, enabling Macklin Motors to service a growing population within the catchment area. We continue to seek similar investment opportunities,” he added.

Buccleuch Property - which has a market exposure of about £250m through a UK wide investment portfolio and a commercial development pipeline in excess of 2 million sq ft - was advised by Alan Herriot of Ryden on the purchase. MWM Property Consultants acted on behalf of the vendor.