Home Street is located in the busy Tollcross area of Edinburgh which is approximately 0.5 miles south of Princes Street. It is a continuation of Lothian Road which is a principle route connecting the city centre with Bruntsfield, Morningside and the south side.
The subject property is situated on the west side of Home Street on the corner of Lochrin Terrace. There are a number of commercial occupiers in the immediate vicinity including a bank, post office, barbers plus several cafes and restaurants.
The area benefits from regular bus services whilst there is a mixture of metered and time restricted parking on Home Street and the surrounding roads.
The subjects comprise the ground floor of a stone built terraced property with residential flats to the upper floors. It has recently undergone an internal strip out and window replacement so the areas to the front now benefit from excellent levels of natural light.
The space internally is divided into a number of rooms with a large open plan and raised area at the entrance. Many of the rooms are formed by stud partitioning which could easily be stripped out to create open plan space, or reconfigured to suit a range of different occupiers.
Towards the back of the premises is a small kitchen area and WC facilities.
According to our recent measurement survey the premises contain the following approximate net internal area:
98 sq m (1,055 sq ft)
The subjects are offered on the basis of a new lease on full repairing and insuring (FRI) terms for a term to be agreed.
Our client is seeking offers over £20,000 per annum 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 £19,500 effective from 1st April 2017. The uniform business rate for the current year is £46.6 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 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 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.