The subjects are located on the south side of Lanark Road opposite the traffic lights at Inglis Green Road, approximately 2 miles west of Edinburgh city centre. Lanark Road (A70) is a busy arterial route which runs from Haymarket in the city centre and makes the A720 Edinburgh City Bypass easily accessible.
The local area surrounding the property is a mix of residential and commercial occupiers. In the nearby Longstone area is a Sainsbury’s supermarket whilst there is also an Asda supermarket in neighbouring Slateford, together with a number of car showrooms.
There is no dedicated car parking with the property but there are a number of loading bay spaces directly outside. Public transport is widely available.
The opportunity consists of 41 and 43 Lanark Road comprising of a two-storey public house known as The Cross Keys Inn plus a further two-storey property to the rear containing beer celler, store and studio flat/office.
We understand that the pub, which dates back to 1780, is B-listed but it is unclear if this also extends to number 41 so would advise interested parties to make their own enquiries in this regard. The Cross Keys Inn occupies number 43 and comprises of a lounge bar which was extensively renovated in 2015. There is a two bedroom flat at first floor which is accessed externally and would suit manager’s accommodation or a private let.
A pend on the east side of The Cross Keys provides access to a small courtyard and number 41 which is a two storey stone built property with a studio/office at first floor. The beer cellar and store serving the pub are located at ground floor level.
The flatted accommodation in both properties is currently lying vacant and in a poor state of repair, presenting an excellent value enhancing opportunity.
According to our recent measurement survey the premises contain the following approximate gross internal areas:
41 Lanark Road
13.93 (150 sq ft)
9 sq m (97 sq m )
23 sq m (248 sq ft)
43 Lanark Road
68.32 sq m (735 sq ft)
2 bed flat
63 sq m (678 sq ft)
176.93 (1,904 sq ft)
Our client is seeking offers over £240,000 for the heritable interest in the properties.
According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have a Rateable Value of £11,000. The proposed Rateable Value effective from 1st April 2017 is £12,700. 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.
41 Lanark Road, meanwhile, is currently Council Tax band C.
The properties are served by electricity, gas and water supplies.
ENERGY PERFORMANCE CERTIFICATE
The Energy Performance Certificate (EPC) rating for the public house is F.
The Energy Performance Certificate (EPC) ratings for the two domestic properties are G.
A copy of the recommendation reports are available on request.
Each party shall bear their own legal costs with the eventual purchaser liable for any LBTT and Registration Dues.
Upon completion of a formal missive under Scots Law.
VIEWING AND FURTHER INFORMATION
By appointment through the sole selling agent, IME Property Ltd.
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