Peebles is a popular market town on the banks of the River Tweed in the Scottish Borders lying approximately 22 miles south of Edinburgh on the A703.
The subjects are located at the west end of the town’s sought after High Street, close to the roundabout in front of the Old Parish Church.
Surrounding occupiers include a bank branch, a range of cafes and bars, charity shops, estate agents and a tourist office.
The subjects, currently trading as The Prince of India restaurant, comprise the ground and basement of a four-storey property constructed of natural stone under a pitched and slated roof.
The restaurant, capable of seating approximately 50+ covers, is configured into two distinct areas each benefitting from a striking décor with wood panelled ceilings. The front section comprises dining tables with a small bar area whilst the rear area is accessed via a small set of stairs and also has a store and WC just off.
The kitchen is fully equipped and of a size you would expect for a restaurant of this nature. The basement, meanwhile, is not large but provides useful areas for storage and further WC.
According to our recent measurement survey the premises contain the following approximate gross internal area:
118 sq m (1,269 sq ft)
Our client is seeking rental offers of £27,000 per annum exclusive.
A premium of £50,000 is sought for the existing fixtures and fittings and a minimum 10 year lease term.
The subjects are made available on the basis of a new full repairing and insuring (FRI) lease for a term to be negotiated.
According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have a Rateable Value of £20,600 effective 1st April 2017. The uniform business rate for the current year is 46.6 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.
The property is served by mains gas, electricity and water.
ENERGY PERFORMANCE CERTIFICATE
The Energy Performance Certificate rating is G.
A copy of the recommendation report is available on request.
Each party shall bear their own legal costs with the eventual tenant 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 letting agent, IME Property Ltd.
If this property is of interest and you would like further details, or want to arrange a viewing, please contact our property agent on the following details.