Edinburgh Property Lets
Mactaggart & Mickel own over 487 residential properties in Edinburgh which are managed by DJ Alexander who help us achieve rental premium rates and occupancy rates. The letting division has recorded year on year increase and had a turnover of £2.9 million, which represents a £1.8m profit in 2009.
The groups investment properties are valued at £49 million based on open market valuations undertaken by our letting agents in 2009.
We continue to look for opportunities to add to our portfolio.
Leasing Opportunities
Mactaggart & Mickel are pleased to announce a leasing opportunity for a 2,731 SQFT office space within the heart of Glasgow’s International Financial Services District, at 1 Atlantic Quay, Glasgow. The space is a recently refurbished, high quality, Part First Floor office accommodation with great sub leasing flexible term opportunities.
The building also benefits from a Commissionaire manned reception, disabled access throughout and three high-speed passenger lifts. Security is provided via comprehensive CCTV provisions.
Click here to download the 1 Atlantic Quay Brochure (approx 2.9MB)
For more information on this leasing opportunity or to arrange an appointment please contact Peter Leburn (peter.leburn@collierscre.co.uk) or Jonny McManus (jonathan.mcmanus@colliercre.co.uk) at Colliers CRE (0141 226 1000)
Shared Equity
With our Major Ownership Scheme customers pay 80% of the purchase price of a new home. There is a 10 year limit on the 20% customers pay back and we charge no interest on the 20% equity share. The 20% is payable when the customers sell or cease to occupy the property and is based on the current market value of the home at that time.
Income from this revenue stream contributed £0.9 million to turnover in 2009 which represented 54 redemptions. This is down from £1.4 million in 2008. We are on target to increase our income from redemption to above £2 million this current financial year.
Mactaggart & Mickel’s shared equity redemption is valued at approximately £15 million.