Portobello is a well-known suburb of Edinburgh and is situated 3 miles east of the City Centre.
The subjects are situated towards the east end of Portobello High Street, close to the junctions with Marlborough Street and Bellfield Lane. Following a recent spate of new and on-going commercial and residential developments Portobello is becoming increasingly popular due to its mix of local, national and artisan retailers. Its proximity to the beach and the promenade overlooking the Firth of Forth make Portobello a popular destination for both locals and attracts tourists all year round.
Further residential developments are anticipated for Portobello within excess of 2,500 new homes planned.
The subjects comprise the ground and basement floors of a retail unit of a four-storey traditional building constructed of stone under a pitched and slated roof. There is a display window to the front of the property beneath a tradition awning with an entrance door to the righthand side. The area is a mix of commercial and residential Uses with retail, licensed, leisure on the ground floors with residential units above.
Internally, the unit is a basic rectangular in shape open plan retail area with a WC to the rear centre. The front shop is bright and has high ceilings.
The basement is currently accessed by a timber stair leading from the rear left of the retail area. The basement is a highly useable space and there is a further WC located in the basement, some storage areas and an exit to the rear.
The property is currently undergoing some works, tanking in the basement and will be left in a clean plaster boarded finish ready for potential tenants to put their own mark on the décor and finish of the unit. We are keen to let customers view so they could have some input.
According to our recent measurement survey the premises contain the following approximate internal area:
Ground Floor: 28 SQ M (301 SQ FT)
Basement: 32 SQ M (344 SQ FT)
Total: 60 SQ M (646 SQ FT)
Our clients are seeking a rental figure in the region of £12,000 per annum.
Our clients are looking to create a new lease on a Full Repairing and Insuring basis for a term to be negotiated, preferably 5 years or more.
According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have a Rateable Value of £2,800. 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 property is served by mains electricity 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 letting agent, Ime DJK Group Ltd.