Property Details

88 South Clerk Street
Edinburgh
Edinburgh
, Newington

Offers over£195,000

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PropertyDescription

SITUATION
The subjects are on South Clerk street which is situated in the south of Edinburgh city centre; a popular continuation of Clerk Street which leads directly to the Bridges, Royal Mile and the east end of Princes Street.

Newington is a particularly scenic area of Edinburgh with local landmarks such as Salisbury Crags, Arthur’s Seat and the Meadows all in close proximity to each other. There is a strong student population in the immediate vicinity and a wide range of shops, bars and cafes nearby.

There are regular bus links to the city centre but several of Edinburgh’s tourist and festival attractions, such as the Royal Mile and Edinburgh Castle are within walking distance. Other local facilities include: The Queen’s Hall, Festival Theatre, National Museum of Scotland and the Commonwealth Pool.

 

DESCRIPTION
The subjects are configured over ground floor forming part of a traditional tenement building with excellent street frontage.  The layout comprises of a large welcoming reception area with a generous hallway leading to two private offices to the rear of the unit.  There is a toilet just of the hallway to the right-hand side.

The shop is light and airy and has a good ceiling height throughout.  The rear offices have traditional features like fireplaces, cornicing and sash and case windows.

 

ACCOMMODATION
Total NIA: 60 SQ M (646 SQ FT)

 

LEASE DETAILS
88 South Clerk Street is currently rented out to ‘EL Pato’ trading as Must be Spanish, a Spanish learning and language school/Café for 10 years on a full repairing and insuring lease.  There is 8 years remaining on the lease at £12,000 per annum.

 

PRICE
We are seeking offers over £195,000 for the investment freehold purchase.

SERVICES
The property has mains water, drainage and electricity.

ENERGY PERFORMANCE RATING
The EPC rating is B

RATING
As per the Scottish Assessors Website (www.saa.gov.uk) the subjects are entered into the Valuation Roll with a Rateable Value of £9,000. The uniform business rate for the current year is 46.6 pence in the pound.

LEGAL COSTS.
Each party is responsible for their own legal and costs incurred in the preparation, negotiation and settlement of the documentation pertaining to the lease or sale including LBTT or VAT applicable

ENTRY
On completion of legal formalities

PropertyOverview

  • Property ID:P457
  • Postal Code: EH8 9PT
  • Status:For Sale
  • Type: investment
  • Class:2 (Office)
  • Property Size:n/a sq ft
  • Price:£195,000

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