Clerk Street is in the Newington district of Edinburgh and is a continuation of South Clerk Street. Edinburgh’s historic Old Town and tourist attractions are less than 1 mile from here. The subjects are situated on the east side of the street close to the corner of Rankeillor Street.
The area is a popular retail and commercial thoroughfare surrounded by residences belonging to students and young professionals. Directly opposite the property is the former Odeon cinema which is due to undergo a multi-million pound redevelopment by G1 Group. Currently there is a wide range of commercial occupiers including convenience store operators, bars, restaurants and cafes. The open spaces of The Meadows are close by as well as numerous other attractions and amenities.
Public transport is widely available and there is plenty of on street metered car parking.
The subjects comprise a retail unit arranged over ground and basement with a glazed aluminium framed frontage. The upper floors are residential as you might expect from a traditional tenement building.
Internally, the unit, which traded previously as a green grocers, is open plan with a back shop incorporating a WC and store. The basement is currently accessed via a hatch to the rear of the shop area but also via the neighbouring tenement stairwell.
According to our recent measurement survey the premises contain the following approximate gross internal area:
105 sq m (1,130 sq ft)
We understand the premises has been granted a change of use from class 1 (shop) to restaurant. Interested parties should make enquiries with City of Edinburgh Council quoting planning reference: 17/01876/FUL
Our client is seeking £18,240 per annum to grant a new lease.
According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have a Rateable Value of £9,000 and should qualify for 100% rates relief. 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 property is currently served by electricity 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 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 selling agent, IME Property Ltd, on 0131 290 2350 or via email@example.com