The subjects property sits on the corner of Iona Street and Leith Walk and is approximately 3 miles from the east end of Princes Street.
There is a wide range of commercial occupiers in the area including several restaurants, pubs, hot food takeaways and coffee shops. Slightly further up Leith Walk, meanwhile, is a large student housing development.
Public transport in the area is comprehensive with numerous bus services. There is also a range of parking available including permit holder and metered spaces.
The premises comprises the ground and basement of a stone built tenement with three storeys of residential accommodation above.
The unit, which has traded previously as ‘The Leith Grocer’ and an e-cigarette store, has a quadrant shaped floor space with a white washed laminate floor covering. The three large windows ensure plenty of natural light and the cornice is a nice internal feature.
There is a basement accessed via a trap door in the shop area (not accessible at the time of inspection) and a small WC off to the side of the shop area.
According to our recent measurement survey the premises contain the following approximate net internal areas:
64.10 sq m (690 sq ft)
Our client is seeking rental offers of £12,000 per annum to grant a new lease. The property is elected for VAT.
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 £5,600 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 electricity and water.
ENERGY PERFORMANCE CERTIFICATE
The Energy Performance Certificate rating is F.
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.