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 the shop. The subjects are situated on the north side of the street opposite Montague Street.
The area is very popular with students and there is a cosmopolitan 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 location attractions and amenities.
Public transport is widely available and there is plenty of on street metered car parking.
The subjects are configured over ground and basement and form part of a traditional Edinburgh tenement building with restaurant use.
A large glass frontage provides plenty of natural light into the main seating/caf? area and the high ceilings throughout add to the sense of space, there is enough room to seat 25-30 covers comfortably. To the rear of the premises are the WC facilities, service/bar area and the kitchen is equipped with some modern cooking equipment and a commercial kitchen extraction system.
The basement is entered via the common stair and is a handy extra storage space for the restaurant
According to our recent measurement survey the premises contain the following approximate internal areas:
Basement: 15 SQ M (161 SQ FT) Ground floor: Gross: 50 SQ M (538 SQ FT) Net: 44 SQ M (474 SQ FT)
A rental of £10,800 per annum is sought for the subjects.
The existing tenant is looking for offer of around £30,000 to assign their lease.
Currently there are 8 years remaining of a 10 year lease.
Alternatively a new full repairing and insuring (FRI) lease for a term to be negotiated.
According to the Scottish Assessor?s website (www.saa.gov.uk) the subjects have a Rateable Value of £11,900.
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, 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 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.