A fully managed holiday let apartment within a central Edinburgh location.
A top floor two bedroom apartment on Queen Street in Edinburgh City Centre. Currently this is a fully managed holiday let apartment with established short let returns makes it a very appealing investment proposition.Investment: Net Investment Yield: 5.91%Managed by Destiny Scotland, The Q-Residence Apartments' revenue stream has grown steadily since the return to normality following the Covid period, proving popular with both leisure and corporate guests.The building's occupancy rate for 2024/25 is approximately 90%, which is above average. The superb New Town location, combined with Waverley train station, the bus station, and the tram line only a few minutes' walk from the entrance, presents an opportunity for rates to increase in the future.The Q-Residence Apartments have received an excellent score on TripAdvisor, with an average review rating of 4 out of 5, and an impressive 8.9 out of 10 on Booking.com.The net income for Flat 4 after all operating and management costs for the 2024/25 period was £27,500. The apartments have been built to a high standard, offering a durable, low-maintenance yet stylish product. A keypad entry system allows secure access to each apartment.Destiny Scotland, the current management agents, can provide details of previous gross and net revenue on a monthly basis, along with future projections for this apartment. All requests should be directed to Knight Frank.The Property:This property is part of the exceptional Q-Residence Apartments, fully managed by Destiny Scotland Limited. Accessed via the communal main door at ground level, the apartment offers a seamless blend of style and convenience.This pristine two-bedroom apartment features a well-proportioned open-plan kitchen/living area, enhanced by large windows that provide an abundance of natural light. The layout includes a spacious principal bedroom with an en suite, a further double bedroom, and a central shower room. Ample storage space is available throughout the apartment.Finished to an exacting standard, the fully fitted kitchen is equipped with modern appliances, including an integrated fridge, dishwasher, washer/dryer, and a range-style cooker with an induction hob. The bathrooms are equally well-appointed, featuring a shower over the bath, heated towel rails, and large mirrors.The combination of a prime location and high-quality finishes makes this apartment an attractive investment opportunity, offering strong returns with a hands-off management approach.Local Authority: The City of Edinburgh CouncilRateable Value: £11,200 per annum.Owner could qualify for rates relief, subject to processional advice.Tenure: FreeholdNet Investment Yield: 5.91%Service Charge: Included within managed service
Queen Street boasts a prime location in the heart of Edinburgh, offering immediate access to the city's finest amenities. Nestled between the New Town's prestigious Charlotte Square and St Andrew Square, it is just a short walk from the boutiques and restaurants of Princes Street, George Street, and Multrees Walk, including Harvey Nichols and the vibrant St James' Quarter.Beyond shopping and dining, Queen Street is conveniently close to cultural and recreational attractions such as the Royal Mile, Edinburgh Castle, the Royal Botanic Garden, the National Gallery of Scotland, and the Scottish National Portrait Gallery. The charming shops and cafés of Stockbridge, along with scenic walks along the Water of Leith, are also within easy reach.