Description
TO LET
7 St Stephen Street, Edinburgh EH3 5AN
Class 3 Restaurant
LOCATION
The subject location, 7 St Stephen Street, Stockbridge in close to the junction of Circus Place. The location constitutes a reasonably high footfall area throughout the day with commuters, local residents and shoppers visiting the busy Raeburn Place, Hamilton Place and St Stephen Street area for some retail therapy. The premises are in a mixed commercial and residential area with commercial units occupying the street level with homes above.
Stockbridge is in one of the most popular neighbourhoods? in Edinburgh, with cobbled streets, Georgian architecture, lush green spaces and an abundant mix of independent shops, bars and restaurants.
DESCRIPTION
We are instructed to acquire a suitable tenant to lease these wonderful premises which has been home to Bells Diner since 1972.
The subjects comprise a single fronted retail unit with a recessed door and a large display window outlined in yellow paint with signage space heading the frontage. The Restaurant forms the ground floor and basement of a traditional Edinburgh tenement building beneath a pitched slated roof with three storeys of residential flats above.
Internally the front area is an open space restaurant seating area with 20-30 covers available, the kitchen is to the rear right-hand side and is a good size and well laid out. WCs are just behind the front shop near the centre, and there is additional storage space in the large basement that is accessed via a trapdoor and a wooden staircase.
There is a back door that leads to a private back garden area.
ACCOMMODATION
According to our recent measurement survey the premises contain the following approximate internal areas:
Ground Floor: 44 SQ M (474 SQ FT)
RENT & LEASE TERMS
The asking rent is £20,000 per annum on Full Repairing and Insuring terms for at least a minimum of five years.
PREMIUM
Our client is seeking a premium of £20,000.
RATEABLE VALUE
According to the Scottish Assessors website (www.saa.gov.uk) the property has a Rateable Value of £14,000. The uniform business rate for the current year is 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.
UTILTIES
The properties are served by mains electricity, gas and water.
ENERGY PERFORMANCE CERTIFICATE
The Energy Performance Certificate rating is Pending.
A copy of the recommendation report is available on request.
LEGAL COSTS
Each party shall bear their own legal costs in the preparation of the lease with the eventual tenant liable for any Registration Dues or LBTT thereon.
ENTRY
Upon completion of a formal missive under Scots Law.
VIEWING AND FURTHER INFORMATION
By appointment through the sole selling agent, Ime DJK Group Ltd.
EPC rating: Unknown. Council tax band: X,