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.
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 2020.
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.
At present the unit is classed as Class 1 Retail.
There is less than one year remaining on a 15-year lease held on a Full Repairing and Insuring basis which runs until 2020. There are rent reviews every 5 years. A copy of the lease can be made available.
We are currently negotiating with the current tenants to raise their rent to £10,000 per annum. If they choose to leave in June 2020, We have several potential tenants lined up very keen to move forward on the same terms.
The passing rent is £6,500 per annum.
We are looking for offers over £130,000 to purchase the freehold with the lease in place.
According to our recent measurement survey the premises contain the following approximate net internal area:
Ground Floor 54 SQ M (581 SQ FT)
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.
The properties are served by mains electricity and water.
ENERGY PERFORMANCE CERTIFICATE
The Energy Performance Certificate rating is G.
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 purchaser 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 DJK Group Ltd.