Property Details

55 High Street
East Lothian
East Lothian
, Musselburgh

Offers over£130,000

Request a Viewing

PropertyDescription

LOCATION

Musselburgh is a popular commuter town in East Lothian 8 miles east of Edinburgh City Centre with a population of approximately 22,000 people.  It is situated close to the A1 and A720 Edinburgh City Bypass with excellent rail links provided from stations at Musselburgh and Newcraighall.

The property is at the east end of the High Street opposite Newbigging Street and is only a short distance from Musselburgh Racecourse and Lorretto School. There is a range of national and local occupiers in the immediate area including Medusa, Angus Gordon and S Luca of Musselburgh.

 

DESCRIPTION

The retail unit offers a first-class retail accommodation which is well fitted out to a High specification with modern glass frontage with an internal typical commercial retail finish.

The premises make up the ground floor of a modern development with a small parade of commercial units with residential dwellings making up the first and second floors.

Currently trading as Timpsons Key cutting and shoe repairs who have a lease in place until 2025.

The main retail are is the front shop space, there is a large staff area/backshop and a WC to the rear.  There is also a back door which leads to a courtyard/drying green.

 

CLASS USE

At present the unit is classed as Class 1 Retail.

 

INVESTMENT DETAILS

 

LEASE

There are over 5 years remaining on a 15-year lease held on a Full Repairing and Insuring basis which runs until 2025.  There are rent reviews every 5 years.  A copy of the lease can be made available.

 

RENT

The passing rent is £7,500 per annum.

 

PRICE

We are looking for offers over £130,000 to purchase the freehold with the lease in place.

 

ACCOMMODATION

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

 

Ground Floor                           54 SQ M (581 SQ FT)

 

RATEABLE VALUE

According to the Scottish Assessor’s website (www.saa.gov.uk) the property has a Ratable Value of £7,000.  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 purchaser 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:P447
  • Postal Code: EH21 7AB
  • Status:For Sale
  • Type: investment
  • Class:1 (Retail)
  • Property Size:n/a sq ft
  • Price:£130,000

ExtraInformation

ShareThis Property

John

John

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.