The subjects are located on St. Patrick Square which is a continuation of the Bridges, Nicolson Street, and Clerk Street which is one of the main thoroughfares into and out of the city on the south side of Edinburgh. The area is a very popular residential area due to its close proximity to the City Centre which is less than 1 mile away to the north. St. Patrick Square is in the heart of the student community based around Edinburgh University which is 500 meters from the property.
There is a high volume footfall passing through St. Patrick Square seven days a week with commuters driving, the abundance of students as well as workers walking or travelling by bus from their homes to the city centre work places. There is bus stops close-by on both sides of the road with regular bus services to the City Centre and beyond.
The subjects comprises the ground floor and basement retail unit of a four storey and basement traditional building constructed of stone under a pitched and slate roof. There is a large display window to the front of the property with an entrance door to the left hand side. The surrounding area is predominantly residential above parades of similar styled retail units. The property is located in heart of Edinburgh University with a large volume of footfall passing from early in the morning until late in the evening.
Internally, the unit is a basic rectangular in shape and is currently configured with a front sales area, a rear office area with a kitchen and WC for staff. The ground floor is flexible in its layout and would suit a plethora of occupiers. An access hatch in the rear office area leads to the basement area.
The property is currently benefits from Class 1 (Retail) Usage.
According to our recent measurement survey the premises contain the following approximate net internal area:
Ground floor 49 sq. m. (527 sq. ft.)
Basement 35 sq. m. (376 sq. ft.)
We are seeking a rent of £18,000 per annum.
Our clients are seeking a minimum of a 5 year lease on a Full Repairing and Insuring basis.
According to the Scottish Assessor?s website (www.saa.gov.uk) the subjects have a Rateable Value of £12,800. 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. 0131 290 2350
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.