Dundonald Street
Edinburgh, EH3

Dundonald Street
Edinburgh,EH3

4 Bedrooms 3 Bathrooms
Guide price:£400,000
Ends 17th May 2022 at 3PM
  • Traditional
  • Parking:Zone
  • Council Tax Band:E
  • Incredible development opportunity
  • Highly sought after city centre location
  • Large and spacious rooms
  • Private courtyard to the front
  • Communal garden to the rear
  • Gas central heating
  • High earning potential from short or long term lets
  • Fully tanked and lined cellar in the front courtyard
  • Renovation part completed already
  • Pre-auction offers considered

Description

Tenure: Freehold

We are delighted to bring to the market this incredible part completed city centre development opportunity. 

This was originally a 2 bedroom basement flat however planning has been granted to extend further into the basement to create a further 2 bedrooms.  Edinburgh City Council planning application: 19/05590/LBC

Property benefits from sole access to the communal main door.  The rest of the building gains access from pavement level.  Once you are within the flat you are met with a large hallway with space for storage,  off this hallway there is a spacious and bright impressive living room, a double bedroom while at the other end of the hall there is a bathroom and a further bedroom with a mezzanine level above,  this area is perfect for an office or for additional storage space.  Access to the lower basement level is currently gained by a step ladder.  Once you are in the basement you will find three large rooms and space for another bathroom with 2 new lightwells having been dug out.  With much of the hard work being completed already,  this area just needs the right buyer to finish the job.  

Externally there is a fully tanked and lined cellar in the front courtyard. This unit has both electricity and water and could easily be used as an office, utility room or storage. Cellars in this area are considered to be worth at least £10,000.  As well as this there is a shared garden to the rear.  Further benefits to this property include gas central heating and zoned parking.

This would be a perfect project for builder, developer or investor looking for their next project.  Comparable sales evidence below shows a likely end value in excess of £630,000.00

7, Scotland Street Lane West, Edinburgh, Midlothian EH3 6PT- 3 bed, unknown- £665,000

17/1f, Dundas Street, Edinburgh, Midlothian EH3 6QG

4 bed, unknown- £600,000
 
96, Dundas Street, Edinburgh, Midlothian EH3 6RQ

3 bed, unknown- £611,000.00
 
10, Dundonald Street, Edinburgh EH3 6RY- £630,888.00
 
Once the renovation is completed, a rental of up to around £2,000pcm could be achieved for a long term let which would give a terrific annual return of £24,000.00.
 

Location

Dundonald Street is one of the most highly desirable residential street in The New Town.

The property is located within easy walking distance of Princes Street, George Street, and the West End, making it the ideal location for a family home or even a short term let.

Nearby vibrant Stockbridge offers terrific bistros, bars, cafés, restaurants, boutique shopping and delis. A Waitrose supermarket is nearby at Comely Bank; a Tesco superstore on Broughton Road; and a Sainsbury’s supermarket, Boots, and M&S at Craigleith Retail Park, cater for everyday needs.

Recreational amenities include; the Water of Leith Walkway, Royal Botanic Gardens, Inverleith Park, Glenogle Swim Centre as well as having the impressive King George V park directly opposite.

It should be noted that due to the uninhabitable condition of the property at present, there is no Home Report required.

In the event of an offer being accepted the following charges will be payable immediately:-

Buyers Fee £3,000

Deposit to the sum of 10% of the sale price (subject to a minimum of £3,000)

 

EPC rating: D.

Location

Documents

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EPC
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Areas

edinburgh_shore
Edinburgh

Beautiful Capital City of Scotland is a popular tourist and business destination all year round.  The property market in this fine Festival City has consistently remained buoyant for a good number of years and doesn’t show any signs of slowing down at any time soon.  Edinburgh is our hub for both the city and all surrounding areas from the scenic Scottish Borders to the commuter towns of and picturesque villages of Fife.

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Dundee

The wonderful City of Discovery has enjoyed a regeneration in recent years with the waterfront development on the banks of the Firth of Tay estuary at the heart of it.  Dundee benefits from a large Student population ensuring rental properties, in particular,  are always popular.  Moving south from Dundee is the Fair City of Perth while going the other direction North of Dundee you have the birthplace of Scotland, Angus.

aberdeen
Aberdeen

The Granite City, as it is affectionately called, is a vibrant city with a large student population.  The city has benefited from the Oil industry with a number of large businesses headquarters being based there.  The Aberdeenshire area boasts some of the best beaches and coastal walks in the country.  With the rise in popularity of Staycations the rural settings of Aberdeenshire villages are sure to be popular in the coming years.