The Haymarket area of Edinburgh is situated approximately 1 mile west of Princes Street on the A8. It is a vital transport hub for the city with Haymarket Station having recently undergone a significant redevelopment and expansion.
The subject property is situated on the north side of Haymarket Terrace in a central location and is directly opposite the junction with Haymarket Yards. There are numerous office buildings nearby with occupiers including Tesco Bank, Cosla, the Institute of Chartered Accountants and HMRC.
The tram stop outside the station is within a very short walk of the property and there are also regular bus services connecting this area with other parts of the city.
The subjects comprise a single windowed class 3 unit forming the ground floor and basement levels of a traditional Edinburgh tenement building.
There is sufficient room for 20 covers in the front section of the restaurant area. The premises widens beyond this section to provide additional space for approximately 15-20 covers with a bar area and kitchen.
The large basement area, which provides plenty of storage space and also comprises WC facilities, is accessed via a stairway to the rear of the unit.
According to our recent measurement survey the premises contain the following approximate net internal area:
90 SQ M (969 SQ FT)
The subjects are offered on the basis of a new full repairing and insuring (FRI) lease for a term to be agreed.
Our client is seeking £23,000 per annum for the leasehold interest in the property.
There is also a £20,000 premium being sought for the existing fixtures and fittings in the property.
According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have a Rateable Value of £11,000. The uniform business rate for the current year is £0.484 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.
The property is 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.
VIEWING AND FURTHER INFORMATION
By appointment through the sole letting agent, IME Property Ltd.
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.
Upon completion of a formal missive under Scots Law.