72 South Clerk Street
Newington, Edinburgh, EH8

£13,000 pa
Premium Cost: £85,000
Virtual Tour

Property Overview

  • Property ID: P622
  • Postal Code: EH8 9PT
  • Status: For Rent
  • Type: Commercial
  • Class: 3 (Food & Drink)
  • Property Size: 844 ft2
  • Price: £13,000 pa
  • Premium Cost: £85,000

Description

FULL ASSIGNATION AVAILABLE OR SUB-LEASE OPTION
Class 3 (Pending) Café/Bistro/Restaurant
Busy Location
Late Licence Granted
Liquor Licence

72 South Clerk Street, Edinburgh, EH8 9PT

Location
The retail unit is located on South Clerk Street, which is in the popular Newington area of Edinburgh, just a mile or so south of the City Centre. South Clerk Street forms part of the main arterial road into Edinburgh from the south leading onto the Bridges and subsequently Princes Street. The surrounding area is densely populated with a large student population due to the various Edinburgh University Campus’. The premises are located adjacent to a pelican crossing and busy bus stops.
The property is situated in a parade of similar styled retail units with three storeys of residential properties located above. Other retailers close by include Sainsbury’s, the Co-op, a wide selection of local artisan retailers, delicatessens, bars, restaurants, cafes and services.

Description
This premises will be full class 3 Unit on completion of extraction system being fitted, licenced café/bistro/restaurant now with a late licence in place in the Newington area. It has undergone new renovations and is fully fitted. Internally, the café/bistro is well presented and looked after. Two spacious seating areas are featured at the front and back of the premises, with an open kitchen in between. The premises has a lot of character with high ceilings and beautiful Victorian style cornice.
The cooking facilities are currently behind the bar area like an open kitchen, there is scope to form a kitchen in the back room/seating area.
The property has extra storage in the basement area which can be accessed from the adjacent common stair. The current opening hours are:
- Monday-Thursday; 9am-1am
- Friday- Saturday; 9am-2am
- Alcohol serving hours are between 10am - 1am Mon – Thurs, 2am Fri-Sat

Accommodation
According to our recent measurement survey the premises contain the following approximate net internal area:
76 SQ M (844 SQ FT)

Rating
According to the Scottish Assessors website (www.saa.gov.uk) the subjects have a Rateable Value of £11,600. The uniform business rate for the current year is £0.49 pence in the pound.
Occupiers may be eligible for rates relief through the Small Business Bonus Scheme if the combined rateable value of all their business premises in Scotland is £35,000 or less

Rent & Premium
The existing lease has 18 years remaining on full repairing and insuring terms, the sitting rent is £13,000 and a premium of £85,000 is sought.
Alternatively, our client would consider a rent of £20,000 per annum alongside a £40,000 premium on full repairing and insuring terms on sub-let basis for a term to be agreed.

Services
The property has mains water and electricity.

Energy Performance Certificate
The EPC rating is E
A copy of the EPC and recommendation report can be provided upon request.

Entry
Entry will be upon completion of a formal missive under Scots Law.

Legal Costs
Each party is responsible for their own legal costs but the ingoing tenant will be liable for any Registration Dues and LBTT relating to this transaction.

Viewing
Strictly by appointment via the sole selling agents

Contact
Ime DJK Group Ltd 0131 629 5050 option 1 – commerical@ime.co.uk

EPC rating: E. Council tax band: X,