The subject premise is located in Comiston Road, Edinburgh in close proximity to South Morningside Primary School. The location constitutes a reasonably high footfall area throughout the day with commuters, local residents and families attending South Morningside Primary School. The premise is located in a mainly residential area yet in a parade of similar styled retail, office and cafe premises on a main road close to Morningside.
Comiston Road is a direct route in and out of town converging into Morningside Road, Brunstfield Place, Tollcross and then Lothian Road. Comiston Road also leads directly out of town towards Buckstone, Fairmilehead and The Edinburgh City Bypass. Other retailers in close proximity include Comiston Newsagents, Pie Not and Henderson Wine.
We are instructed to dispose of the lease of a popular French Creperie/Cafe with the addition of all the fixtures and fittings. This is a well-established, busy and thriving business but can be changed for a new occupier to develop the shop to suit their tastes. The premises has an alcohol license in use and late opening hours if required.
The subjects comprise a single fronted retail unit with a recessed door and two large display windows on a busy route into Edinburgh. The premise is situated solely on the ground floor beneath a traditional Edinburgh tenement. Internally, the unit is split between a front-shop open plan seating/serving area and a back-shop kitchen and staff WC. DDA compliant unisex toilet is located to the left centre of the property.
The unit is tastefully decorated to a high standard with all fixtures and fittings in keeping with the French boutique creperie style.
The shop is well known throughout Edinburgh and is in walk-in condition.
According to our recent measurement survey the premises contain the following approximate internal areas:
65 SQ M (700 SQ FT)
Currently the property is held on a 10-year lease with 3 years remaining of the lease.
The Landlord is willing to grant a new long-term lease extension
Currently £10,000 per annum, the landlord may look for a uplift after the remaining term.
Our client is seeking a goodwill value of £45,000 for the leasehold, fixtures and fittings, alcohol license etc….
FIXTURES AND FITTINGS
Fixtures and fitting include, Coffee machine, dishwasher, fridges, freezers large and display types, 2x crepe machines (gas), new oven, steel tables/sinks, microwave, tables and chairs, and baby chairs. There is too much to list including furniture. Viewings are recommended.
According to the Scottish Assessor’s website (www.saa.gov.uk) the property has a Rateable Value of £11,300. The uniform business rate for the current year is £0.49 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 and water.
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.