Property Details

26 Gilmerton Dykes Street
Edinburgh
Edinburgh
, Gilmerton

OIEO£120,000

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PropertyDescription

LOCATION

Gilmerton Dykes Street is located approximately 4 miles south east of Edinburgh City Centre. The newsagent’s business is located at the west end of Gilmerton Dykes Street. Gilmerton Dykes Street is on the B701 which leads from the junction of Lasswade Road and Captains Road to the junction of Gilmerton Road and Drum Street leading onto the A7 Old Dalkeith Road.

The area is a mainly residential with a splattering of neighbourhood shopping. There is car parking at the front of the newsagents and bus stops on either side of the road leading into the city centre. Gracemount High School, Gracemount and Kaimes Primary Schools are situated within 0.75 miles of the premises.

 

DESCRIPTION

The newsagent comprises the end terraced ground floor retail unit of a three storey property under a pitched and tile roof. There are two floors of residential properties above the newsagents in a parade of similar styled retail units. Other occupiers in the parade of shops includes a licensed grocers, a hair salon, a café and a hot food take away.

There is a large display window fronting onto GIlmerton Dykes Street with the entrance door recessed on the right hand side. Security shutters are fitted to the front elevation.

Internally the unit is laid out with a sales area to the front of the unit with a storage area, WC and tea preparation area to the rear. The long counter is set to the left hand side with ample shelving, cold counters set along the other sides of the unit.

The premises previously hosted a Post Office to the rear of the unit.

 

THE BUSINESS

The business trades as a traditional confectioners, tobacconist and newsagent which incorporates an array of everyday groceries items. There is no alcohol licence associated with the unit but there is a Lottery machine. The weekly news bill amounts to circa £1,250.

The turnover of the business for the year ended 31st March 2018 amounted to £264,863. The business serves the local community, local children going to and from school and is located close to bus stops either side of the Gilmerton Dykes Street.

The business has been in the same ownership for a number of years and is now on the market as the owner is retiring.

 

CLASS USE

At present the unit is classed as Class 1 Retail.

 

ACCOMMODATION

According to our recent measurement survey the premises contain the following approximate net internal area: 

Ground Floor                           44.87 sq. m. (483 sq. ft.)

 

PRICE

Our Clients are seeking offers in excess of £120,000 for the heritable interest in the property.

 

RATEABLE VALUE

According to the Scottish Assessor’s website (www.saa.gov.uk) the property has a Ratable Value of £4,783.  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 Ratable Value of all their business premises in Scotland is £35,000 or less.

 

UTILTIES

The properties are 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.

 

LEGAL COSTS

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.

 

ENTRY

Upon completion of a formal missive under Scots Law.

 

VIEWING AND FURTHER INFORMATION

By appointment through the sole selling agent, IME Property Ltd.

PropertyOverview

  • Property ID:P415
  • Postal Code: EH17 8JX
  • Status:For Sale
  • Type: commercial
  • Class:1 (Retail)
  • Property Size:483 sq ft
  • Price:£120,000

ExtraInformation

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Bill Adams

Bill Adams

If this property is of interest and you would like further details, or want to arrange a viewing, please contact our property agent on the following details.