The subject premises are located in Dundas Street, Edinburgh which is a high footfall area throughout the day with commuters, business people, tourists trade and there is a secondary school close by. The premises are located in a parade of similar styled retail/licensed and office properties under traditional tenement buildings which comprise three storeys of residential apartments.
The premises are located on the junction of Dundas Street, Brandon Terrace, Henderson Row and Eyre Place. Being located on the prominent corner of Dundas Street and Henderson Row benefits the business as there is a plethora of offices in the area which need servicing morning and lunch times.
We are instructed to sell the Lezzetli sandwich shop and catering business which comprises the assignation of the lease for the Dundas Street shop. This is a well-established, busy and thriving catering business.
The subject property comprises a ground floor sales area with a lower ground floor for preparation, storage and staff areas. Internally, the unit on the ground floor comprises a front sales area and a basement/storage area.
The Dundas Street unit benefits from a Class 1 (Retail) Consent. It trades as a takeaway as all cooked food is brought to the premises from another location. All hot food for the Dundas Street premises are freshly prepared and delivered from another unit. The food is then re-heated up on the premises.
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 £167,930. 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.
A new lease will be available by separate negation along with any associated rent reviews.
Our clients are seeking the sum of £10,000 for the goodwill of the 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 and location.
According to the Scottish Assessor’s website (www.saa.gov.uk) Dundas Street property has a Rateable Value of £9,800. 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 property is served by mains electricity, gas and water.
ENERGY PERFORMANCE CERTIFICATE
The Energy Performance Certificate rating is pending.
Upon completion of a formal missive under Scots Law.
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.
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.