Newfield House 1 New St 7,776 sq ft 100% Let Retail Property Musselburgh EH21 6HY £550,000 (£70.73/sq ft) 5.26% Net Initial Yield

The subjects comprise an attractive and substantial children's nursery formed by four interconnecting traditional stone-built buildings, sympathetically extended and adapted to provide highquality childcare accommodation. The nursery is currently licensed for up to 100 children and occupies a prominent position within landscaped grounds to both the front and rear. The accommodation is arranged over two storeys and benefits from characterful original features. Internally, the property provides a range of well-proportioned activity and learning rooms together with ancillary facilities including staff accommodation, kitchen areas, storage rooms and WC facilities. The flexible layout offers a variety of room sizes and configurations, capable of supporting a range of operational requirements including alternative commercial uses or residential conversion subject to the necessary planning consents. Externally, the landscaped grounds provide attractive outdoor space and play areas, enhancing the property's appeal and functionality.
Offers over £550,000 are invited for the freehold interest. A purchase at this level would reflect a net initial yield of 5.26% allowing for standard purchaser’s costs of 4.66%.
The subject’s current rateable value is £62,300.00, which will result in rates payable of £33,330.50 Please note that a new owner or occupier of a commercial property has the right to appeal this rateable value within 4 months of the beginning of the tenancy.