The subject premises are located in Roseneath Street in the Marchmont area of Edinburgh. The unit is located near to the junction of Argyle Place, Sciennes Road and Marchmont Crescent. The surrounding location has a very strong student population but it is also favoured by young professionals and families, such is its close proximity to the city centre and the Meadows.
This is a busy transient and vehicular route for people coming and going on their daily routines making it a popular and busy location for retail and licensed properties. The Royal Hospital for Sick Kids is within 400 meters. There are excellent transport links with regular bus routes serving the city centre on nearby Melville Drive and Marchmont Road.
The subjects comprise a good sized retail unit in a parade of similar styled local shops in a predominantly residential area. The premises occupy the ground floor of a four storey traditionally built stone property under a pitched and slate roof.
The ground floor is a long regular shaped open plan sales area with a large display window to the front with a centrally located door. To the rear there is a tea preparation area, a WC compartment and a fire escape. The upper three floors are given over to residential apartments.
The subjects benefit from a Class 1 Retail Consent. Our clients have obtained a Change of Use to Class 3 with the potential to create a restaurant for 40 covers to the front with ladies, gents and dis-abled toilets to the rear along with a commercial kitchen. Further details are available on the City of Edinburgh Planning Portal reference 16/.01055/FUL.
At present the front sales area is well fitted and is well laid to suit our clients? needs but there is flexibility in the layout to create something unique to match the new occupier?s imagination. This offers an outstanding opportunity to further develop a business in a great location.
Other retailers in this neighbourhood parade of shops comprise a fishmonger, greengrocer, a hairdressing salon, public house and restaurant.
According to our recent measurement survey the premises contain the following approximate net internal area:
Ground Floor 107.23 sq. m. (1,152 sq. ft.)
The property is being offered on a leasehold basis with a minimum lease term of 5 years on a Full, Repairing and Insuring basis at the rent of 25,000 per annum.
According to the Scottish Assessor?s website (www.saa.gov.uk) the property has a Rateable Value of £13,800. 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 properties are 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 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.