Description
SITUATION
The subjects are in South Clerk Street which is situated in the south of the city centre. A very popular continuation of Clerk Street which leads directly to the Bridges, Royal Mile and the east end of Princes Street. Flooded with students Newington is a particularly scenic area of Edinburgh bordered by Queens Park, Salisbury Crags and Arthurs Seat to the East and the Meadows to the West. There are many local shops nearby such as fishmongers, butchers and bakeries and small supermarkets including a Tesco. There are also a wide selection of bars, restaurants and cafes. There are bus links to the City Centre and the New Royal Infirmary hospital and it is within walking distance of many of Edinburghs main attractions such as the Royal Mile, the Castle, Princes Street Garden and the main festival venues and Edinburgh University. Other local facilities include the Queens Hall, the Festival Theatre, the National Museum of Scotland and the Commonwealth Pool.
DESCRIPTION
The unit forms part of the ground and basement levels of a traditional Edinburgh tenement building, with excellent frontage available. The upper level comprises open retail or office space, leading to a private rear-facing back shop or food prep area / kitchen.
The basement level, accessed by timber frame staircase, comprises additional office or storage area and WC.
THE LEASE
There are 6 years remaining on the current lease with potential to add some more years subject to landlord approval, the lease is on Full Repairing and Insuring terms with the current rent sitting at £18,150 for the next three years.
The gross internal areas are:
Front shop area: 345 sq ft
Rear shop: 205 sq ft
Basement: 325 sq ft
Total: 875 sq ft
POTENTIAL OPERATORS
The unit is currently vacant. A class 3 takeaway would best suit this property, but could be used as a variety of different uses.
Rent
Our client is seeking £18,150 for the leasehold interest in the property.
SERVICES
The property has mains water,gas, drainage and electricity.
ENERGY PERFORMANCE RATING
The EPC rating is D
RATING
The Rateable value for this property is £11,000 as per SAA.
LEGAL COSTS
Each party will be responsible for their own legal costs incurred in the preparation, negotiation and settlement of the documentation pertaining to the lease including stamp duty or VAT applicable.
ENTRY
On completion of legal formalities. EPC rating: D. Council tax band: X,