Portobello is a well-known suburb of Edinburgh and is situated 3 miles east of the City Centre. The subjects are situated towards the east end of Portobello High Street, close to the junction with Bellfield Lane and Hope Street North. Following a recent spate of new and on-going commercial and residential development Portobello is becoming increasingly popular due to its mix of local, national and artisan retailers. Its proximity to the beach and the promenade overlooking the Firth of Forth make Portobello a popular destination for both locals and tourists all year round.
Further residential developments are anticipated for Portobello with in excess of 2,500 new homes planned.
The subjects comprise the ground and basement floors of a retail unit of a two storey traditional building constructed of stone under a pitched and slate roof. There is a display window to the front of the property with an entrance door. The area is a mix of commercial and residential Uses with retail, licensed, leisure on the ground floor with residential units above.
Internally, the unit is a basic rectangular in shape with a treatment room, front sales area, rear office with WC for staff.
The basement currently accessed by a ladder leading from the rear office has been created into 3 separate areas with a flexible layout.
The property is currently benefits Class 1 Usage.
According to our recent measurement survey the premises contain the following approximate net internal area:
Ground floor 34 sq. m. (365 sq. ft.)
Basement 39 sq. m. (419 sq. ft.)
Our clients are seeking a rent of offers over £12,000 per annum.
Our clients are seeking to create a new lease on a Full Repairing and Insuring basis with a term to be agreed.
Alternatively our client is seeking offers over £130,000 to acquire the freehold of the property.
According to the Scottish Assessor?s website (www.saa.gov.uk) the subjects have a Rateable Value of £3,650. The uniform business rate for the current year is £0.484 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 pending.
A copy of the recommendation report is available on request.
VIEWING AND FURTHER INFORMATION
By appointment through the sole letting agent, IME Property Ltd.
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.