Property Details

44A John Street
Midlothian, Penicuik

Offers over£230,000

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PropertyDescription

. Highly visible unit

. Over £100,000 invested in refurbishment

. Excellent pharmacist covenant in occupation for 20 years

. Attractive yield

 

LOCATION

Penicuik is a popular and growing Midlothian town on the A701, approximately 10 miles south of Edinburgh City Centre, with over 70,000 residents. The town provides a good range of local facilities including primary and secondary schools and there is a range of well-known businesses in the surrounding area, including: Tesco, Bilston Glen business centre and The Roslin institute.

The A720 Edinburgh City Bypass is only 7 miles from the centre of Penicuik which is served by regular public transport links.

DESCRIPTION

This investment opportunity is a ground floor commercial unit forming part of a modern purpose-built shopping precinct in the busiest retail area of Penicuik with superb footfall.

The unit is highly visible from the A701 and externally the unit is in excellent decorative order and is tastefully finished.  Internally, the pharmacy has been renovated to the highest order with a fit out with all the relevant equipment and branding.

The unit comprises a large retail area with staff, storage and WC facilities to the rear.  The external façade is newly fitted with glazed aluminium frames giving a clean modern finish.

To the rear there is car parking and loading facilities.

ACCOMMODATION

Total Gross   115 SQ M            (1,240 SQ FT)

RATEABLE VALUE

According to the Scottish Assessors website (www.saa.gov.uk) the subjects have a Rateable Value of £16,500. 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.

RENT AND LEASE TERMS

The ground floor property is leased out for £21,000 per annum on a 21- year lease that has 20+ years remaining.  A copy of the lease can be viewed on request.

SALE PRICE

Ground Floor: Offers over £230,000

SERVICES

The property has mains gas, water and electricity.

ENERGY PERFORMANCE CERTIFICATE

The EPC rating is F+

A copy of the EPC and Recommendation can be provided upon request.

ENTRY

By agreement on completion of a missive under Scots Law.

LEGAL COSTS

Each party shall bear their own costs.

PropertyOverview

  • Property ID:P505
  • Postal Code: EH26 8AB
  • Status:For Sale
  • Type: commercial
  • Class:1 (Retail)
  • Property Size:1,240 sq ft
  • Price:£230,000

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