West Preston Street is situated in the Newington area of Edinburgh between the junctions of Blackwood Crescent and Causewayside. Centrally located on West Preston Street, the unit lies approximately 1 mile south of the city centre.
The unit forms part of a parade of shops/offices within an area of residential tenements popular with students and young professionals. There is a wide range of amenities, including local and national retailers, available on nearby South Clerk Street.
The area is well served by public transport with regular bus services offering city-wide destinations.
The subjects are configured over ground floor level forming part of a traditional tenement building. The building is of stone construction with a pitched slated roof.
The premises is currently utilised as an office and is laid out in three distinct areas with a bright open plan area to the front and middle and a private meeting room/board room to the rear. There is also a separate tea prep/staff area together with a W.C. and storage.
The property also benefits from generous ceiling heights and there is hardwood flooring throughout. Externally, the shop is presentable and has a large display window presenting a good signage opportunity.
According to our measurement survey, the subjects comprise the following net internal area:
36 SQ M (388 SQ FT)
The property is currently let to Gylemuir Capital Limited on a License Agreement until 26th August 2021, subject to a tenant only break option at the third anniversary, at a passing rent of £7,500 per annum. The Licensor is seeking to Assign or sub-let their interests in the subjects.
Alternatively, the landlord may consider granting a new lease/license on the subjects.
According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have a Rateable Value of £7,200 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.
ENERGY PERFORMANCE CERTIFICATE
The EPC rating for the property is G.
A copy of the recommendation report is available on request.
The property is served by mains electricity and water.
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.