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Description
Tenure: Freehold
INVESTMENT SALE
63 Elm Row, Edinburgh EH7 4AQ
Class 1a
LOCATION
The subject property is situated near the top of Leith Walk, the section called ‘Elm Row’ (A900) approximately 0.5-miles northeast of Princes Street. The Leith area of Edinburgh connects with Broughton, Queens Street, Easter Road and the popular Shore and Leith Docks, which when the tram goes down Leith Walk will be very beneficial. The unit sits on the East side of Elm Row close to the corners of Brunswick Street and Montgomery Street and is surrounded by a mix of residential tenements, retailers, restaurants, cafes and bars. The amount of passing traffic and trade make this a popular commercial destination.
Public transport links are very good with regular bus routes stopping close to the property. The tram will stop directly outside when the tramline is finished.
DESCRIPTION
The subjects are configured over the ground floor and basement and comprise a single windowed retail unit, with three floors of residential properties above. Currently let to an ‘Insta Cash’ pawn shop style operator. The unit benefits from a rectangular open plan sales area to the front with high ceilings and sales displays either side leading towards the service counter towards the rear, behind this area is a servicing area and the door that leads to the basement.
Accessed via a set of stairs the basement equals the size of the ground floor and is split into front and back areas all shelved out for stock items. The WC and a small kitchen/tea prep are located toward the rear near the stair.
ACCOMMODATION
According to our recent measurement survey the subject comprises the
following approximate net internal areas:
Ground floor: 43 SQ M (463 SQ FT)
Basement: 39 SQ M (420 SQ FT)
Total: 82 SQ M (883 SQ FT)
Lease Terms
The sitting rent is £14,400 per annum on full repairing and insuring terms and conditions with just under nine years remaining.
Sale Price
Offers over £180,000 are sought for the freehold investment purchase.
RATEABLE VALUE
According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have a Rateable Value of £7,400 effective 1st April 2023. The uniform business rate for the current year is 49 pence in the pound. Occupiers may be eligible for 100% 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.
UTILITIES
The property is served by mains electricity and water
ENERGY PERFORMANCE CERTIFICATE
The Energy Performance Certificate rating is B.
A copy of the recommendation report is available on the EPC Register Scotland.
ENTRY
Upon completion of a formal missive under Scots Law.
LEGAL COSTS
Each party shall bear their own legal costs with the eventual tenant liable for any LBTT
and Registration Dues.
VIEWING AND FURTHER
INFORMATION
By appointment through the sole letting agent, Ime DJK Group Ltd.
EPC rating: B. Council tax band: X, Tenure: Freehold, Annual service charge review period (years): 5,