The subjects are situated on the west side of South Clerk Street between the junctions of Hope Park Terrace and East Preston Stree, approximately 1 mile south of Princes Street in Edinburgh city centre.
The street is extremely busy with passing traffic and high levels of footfall. It is especially popular with students due to its close proximity to the University of Edinburgh campuses. Nearby commercial occupiers are wide and varied including several cafes, hot food takeaways, and convenience stores.
There are numerous public transport connections from this location with several bus routes across the city. The surrounding streets offer car parking on a pay and display basis.
The subjects comprise the ground and basement floors of a four-storey tenement style building constructed of solid stone with a pitched and slated roof. There are residential flats on the upper levels of the property.
Internally, the property has an extensive sales area and benefits for high ceilings throughout the ground floor. Stairs leading down to the basement are positioned next to the sales counter and there is a separate office/staff room and WC off to the side. The flooring is timber/laminate with a suspended ceiling and fluorescent lights. |
The basement is deceptively spacious and comprises a number of partitioned rooms which would be suitable for storage or additional staff areas.
According to our recent measurement survey the premises contain the following approximate net internal areas:
Ground Floor: 157.57 sq m (1,696 sq ft)
Basement Floor: 149.47 sq m (1,609 sq ft)
Total: 307.08 sq m (3,305 sq ft)
The subjects are offered on the basis of a new full repairing and insuring (FRI) lease for a term to be agreed.
The current tenant is due to vacate the premises at the end of March but could exit sooner.
Our client is seeking £30,000 per annum exclusive for the leasehold interest in the property.
According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have a Rateable Value of £21,600. 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 gas, electricity and water.
ENERGY PERFORMANCE CERTIFICATE
The Energy Performance Certificate rating is C+
A copy of the recommendation report is available on request.
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.
VIEWING AND FURTHER INFORMATION
By appointment through the sole letting agent, IME Property Ltd.