The premises are located in Haymarket Terrace, Edinburgh close to the junction of Coates Gardens. It is mixed use area with retail on the ground floor with residential on the four floors above as well as purpose built office premises. Haymarket is a central transport hub for buses, the railway station and traffic.
Haymarket Terrace boasts a high footfall throughout the day with commuters, business people and tourists trade. The premises are located in parades of similar styled retail/licensed and office properties under traditional tenement buildings.
The subject property comprises a ground floor sales area with a lower ground floor for preparation, storage and staff areas. Internally, the unit is split on the ground floor between a front sales area and a back shop with the emphasis on the sales area. The lower ground floor is well laid as a commercial kitchen and preparation areas ? which is the basis of the whole business model.
The Haymarket unit benefits from a Class 3 Hot food Consent The large and extensively fitted commercial kitchen is of high specification, is laid out to suit the business needs. This would be ideal for an existing catering business to take over and use the one area for preparation to service other outlets. Rear vehicular access allows easy transportation between units.
Our client will be retiring from the catering trade at the conclusion of this sale.
This is a thriving and well established sandwich bar and catering business with an enviable reputation built up over 15 years of trading. The business trades from Monday to Friday however there is potential to open up at the weekends to service locals, tradesmen and tourists. The business is based on mainly counter sales however it boasts a significant market share in outside catering to local offices and businesses.
The turnover for the year ending April 2017 amounted to £151,869 for sales from the front of the shop with a further £58,092 generated from outside catering. The turnover has been on a upward trend over the past few years.
This offers an outstanding opportunity for a catering professional to expand their existing catering business or for someone moving into catering business.
Copies of certified accounts are available and can be made available to prospective buyers once they have viewed the business.
At present the business trades from 0600 ? 1430hrs on a Monday to Friday. There is potential to develop week end trade due to its passing trade, football and rugby trade as both Tynecastle Park and Murrayfield stadiums are in close proximity for passing supporters.
According to our recent measurement survey the premises contain the following approximate net internal area:
Ground Floor 43.14 sq. m. (464 sq. ft.)
Lower Ground floor 72.90 sq. m. (784 sq. ft.)
The premises are registered as Class 3 (Food and Drink) under the Planning Act (Scotland).
The premises are available on a leasehold basis with a new 5 year term on a Full, Repairing and Insuring basis at an annual rent of £18,000 per annum
Our clients are seeking the sum of £50,000 for the goodwill of the business.
According to the Scottish Assessor?s website (www.saa.gov.uk) the Haymarket Terrace property has a Rateable Value of £7,100. 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, water and gas.
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.
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.