The subjects comprise a takeaway with class 3 hot food consent which is currently trading as the ‘Three Coins Pizzeria’ – understood to be one of the oldest trading restaurant name in Edinburgh.
It is a single shop front with large window and forms the ground and basement of a traditional tenement. Internally, the layout provides for a customer takeaway with a staff counter and food prep/cooking area to the rear. The corridor off to the right leads through to a further prep area with shelving for storage and sufficient space for fridges, freezers, sinks and a separate WC. There is also a small basement area for storage.
There is a Late Hours Catering License which allows the current leaseholder to trade Sunday to Thursday 2300-0200 and Friday and Saturday 2300 to 0300. Interested parties should note that there are numerous pubs and nightclubs in the area which all contribute to the daily takings for the business.
According to our recent measurement survey the premises contain the following approximate net internal area:
29 sq m (312 sq ft)
The passing rent is £10,080 per annum exclusive.
The subjects were initially held on a 21-year FRI lease expiring 16th August 2019 but the lease has recently been varied and extended to expire 16th August 2034.
There are rent reviews due on 17th August 2018, 2023, 2028 and 2033.
Offers in the region of £25,000 sought including all equipment (list provided on request).
According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have a Rateable Value of £6,600. The uniform business rate for the current year is £0.466 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 premises is served by mains electricity, gas and water.
ENERGY PERFORMANCE CERTIFICATE
The Energy Performance Certificate rating is pending.
A copy of the recommendation report is available on request.
Each party shall bear their own legal costs in the 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.