Property Details

3 Yeaman Place
Edinburgh, Polwarth

Offers over£180,000

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PropertyDescription

LOCATION

The subjects are located in the Fountainbridge area of Edinburgh, famously known for the union river. The subjects are located just half a mile from Haymarket station and the Merchiston campus of Napier University. Furthermore, the property also benefits from neighboring the Bainfield student accommodation complex.

Surrounding occupiers include the Genting Casino, a range of cafes, restaurants, takeaways, along with bus stops offering several routes through Edinburgh.

DESCRIPTION

The premise occupies the ground floor of a traditional stone built terraced building, with residential dwellings above. The shop front is finished in grey, featuring a glazed entrance paired with a large window, allowing plenty of natural lighting to enter. Furthermore, there is plenty of signage space available above the entrance, underneath which lies an electric shutter.

The interior is divided into two front and rear sections. The front section has been greatly modernized, featuring a new ceiling, flooring and lighting provided by ceiling spotlights. In addition, the rear section hosts a kitchen which has also recently been modernized and fully fitted with new equipment, suitable for a range of cuisines. A WC is contained within the rear section of the premises, and two storage cupboards found in the main stairway.

According to the Use Classes Order 1997, the property has been classified as Class 3. This allows for the sale of hot food and drink on the premises. Permitted uses of this property include e.g. restaurant, café, takeaway etc. Changes to Classes 1 or 2 is also permitted.

ACCOMMODATION

According to our recent measurement survey, the gross internal area is:

41.39 SQ M (445.5 SQ FT)

RENT

Our client is seeking rental offers of £15,000 per annum exclusive of VAT.

PREMIUM

A £25,000 premium is sought for a 10 year lease term

LEASE TERMS

The subjects are made available on the basis of a new full repairing and insuring (FRI) lease for a term to be negotiated.

SALE PRICE

Alternatively, offers over £180,000 is sought for the freehold acquisition of the premises, including all fixtures and fittings.

RATEABLE VALUE

According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have a Rateable Value of £7,700 effective 1st April 2017. The uniform business rate for the current year is 46.6 pence in the pound.

Occupiers may be eligible for 100% 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.

UTILITIES

The property is served by mains water, gas and electricity.

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 with the eventual tenant liable for any LBTT and Registration Dues.

ENTRY

Upon completion of a formal missive under Scots Law.

VIEWING AND FURTHER INFORMATION

By appointment through the sole letting agent, IME DJK Group Ltd.

PropertyOverview

  • Property ID:P493
  • Postal Code: EH11 1BR
  • Status:For Sale
  • Type: commercial
  • Class:3 (Food & Drink)
  • Property Size:445 sq ft
  • Price:£180,000

ExtraInformation

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