Situated within Edinburgh's highly sought-after West End, Chester Street is an impressive Georgian townhouse comprising three generously proportioned, self-contained apartments within the block, currently operating as an established aparthotel. The three apartments are offered for sale together as a single lot and not sold separately. Offering an attractive combination of period character, spacious accommodation and a secure commercial tenancy, this substantial property presents an excellent investment opportunity in one of the capital's most desirable central locations.
The property is arranged as three self-contained apartments, one on each of the ground, first and second floors. Each apartment benefits from an open-plan sitting, dining and kitchen space beneath high Georgian ceilings, bedroom accommodation and a shower room. The first-floor apartment also opens onto a front balcony. The residential-sized layouts offer the space and comfort of a traditional home, making them particularly well suited to guests seeking serviced accommodation.
The three apartments are operated by ALTIDO Scotland Ltd as an aparthotel, with commercial change-of-use planning permission and short-term let (STL) licences in place. The accommodation is professionally managed, providing a convenient arrangement for investors seeking an established income-producing property.
The property is let to ALTIDO Scotland Ltd on a long-term Full Repairing and Insuring (FRI) commercial lease, with no tenant break clause. The lease provides an attractive initial annual rent, with contractual increases throughout the term. The tenant also pays the landlord's insurance, providing an additional benefit to the owner.
Based on the guide price, the initial rent represents an attractive net yield, with further growth provided by the contractual rental increases and the benefit of tenant-funded insurance. A full investment pack, including the projected cash flow and indicative acquisition costs, is available on request.
Chester Street sits in the heart of Edinburgh's prestigious West End, renowned for its elegant Georgian architecture, attractive residential streets and excellent selection of independent shops, cafés, bars and restaurants, with the city centre and Princes Street within easy reach. The West End tram stop and Haymarket Station are both within comfortable walking distance, providing convenient connections to Edinburgh Airport, Waverley Station and Glasgow. St Mary's Cathedral, Dean Village, the Water of Leith and the Exchange financial district are all close by.
With three spacious, self-contained apartments, an established commercial operator and a long-term lease providing contracted rental growth, Chester Street represents an excellent opportunity to acquire a substantial Georgian property in one of Edinburgh's most highly regarded locations.
The three apartments are offered for sale as one lot, subject to the existing commercial lease. Yields are calculated on the guide price and are indicative. Prospective purchasers should verify all lease terms, planning permissions and licensing arrangements as part of their due diligence.
