For Sale

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For Sale
Car Park, Other
Spaces 44 & 45, New Silvermills Car Park, NW Cumberland Street Lane, Edinburgh, EH3 6RF
Tenure: For Sale
Size: n/a
Price: Offers Over £45,000 Per Space
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Key Features

  • Two single car parking spaces set within a purpose-built car park
  • Located on the first-floor level
  • Situated just off St Vincent Street and Dundas Street
  • Only a short distance from George Street and Princes Street
  • From 111sq ft - 167 sq ft

The subjects comprise two single-car parking spaces set within a modern, purpose-built, secure underground car park of solid concrete construction.

The car park benefits from an automatic roller shutter access operated by key card access.

There is also a secure pedestrian gate with key card access.

Northwest Cumberland Street Lane is located in Edinburgh’s world-renowned New Town, only a short distance north of George Street and Princes Street.

New Silvermills Car Park is situated beneath a large residential development.  The street is bordered by St Vincent Street to the west and Dundas Street to the east making it easily accessible for cars and pedestrians.

The affluent district of Stockbridge with its mix of independent shops and boutiques is only a short walk away.

Public transport is readily available in the immediate area.

Accommodation

According to our recent measurement survey the car spaces dimensions are:

Space 44: 2.26 x 4.56 m (10.30 sq m), (111 sq ft)

Space 45: 4.62×3.34m (15.43 sq m), (167 sq ft)

The spaces can accommodate a standard vehicle, estate, SUV, or similar. 

Price

Our client is seeking offers over £45,000 per space.

Terms

The sale will comprise the transfer of two single shares with no legal contract necessary.

VAT

We understand VAT will not be applicable to the purchase price.

Rateable Value

According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have a Rateable Value of £2,100 effective 1st April 2023.  The uniform business rate for the current year is £0.498 pence in the pound.

Anti-Money Laundering

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 came into force on 26th June 2017.  This now requires us to conduct due dilligence not only on our client but also on any purchasers or occupiers.  Once an offer has been accepted, the prospective purchaser(s)/occupier(s) will need to provide, as a minimum, proof of identity and residence and proof of funds for the purchase, before any transaction can proceed.

Entry

Upon completion of a formal missive under Scots Law.

Iain W. Mercer

Head of Commercial Agency - Scotland
Email
07713 626 887
Bernadetta Majewska

Associate Director | Commercial Valuation and Agency Advisory
Email
07511 499 420
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