Situated in the heart of Edinburgh the capital city of Scotland, with an ever-expanding residential population this class 3 unit is ideally located in amongst the bustling Edinburgh nightlife, Festivals and shows. The immediate area is a blend of residential Retail and office uses.
Leven Street is a small continuation of road located in between Home Street and Bruntsfield Place and is a principle route between the affluent areas of Morningside, Bruntsfield and the city centre. It is only a short walk from the popular Meadows and plenty of other local amenities including a range of restaurants, bars and shops. Major occupiers in the surrounding area include The Kings Theatre, Lloyds Banking Group, Blackbird bar/restaurant and Scotmid.
The subjects comprise ground and basement level of a traditional Edinburgh tenement building and trades as Bodega restaurant. The main restaurant area is suitable for up to 20 covers with and is nicely decorated to a high standard. There is a fully fitted and working kitchen to the rear and in the basement of the unit, there is an additional prep area with appliances, storage and the WC facilities are also located here.
The main restaurant area has a neat serving/drinks bar area within the seating arrangement and the space is well utilised.
According to our measurement survey, the subjects comprise the following areas:
Ground Floor: 44 SQ M (474 SQ FT)
Basement: 36 SQ M (388 SQ FT)
Total NIA: 80 SQ M (862 SQ FT)
According to the Scottish Assessors website (www.saa.gov.uk) the subjects have a Rateable Value of £14,600. 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 current rent is £21,000 per annum
There are 18 year remaining on a full repairing and insuring lease. A copy of the lease can be viewed by interested parties after viewing the property.
Our client is seeking a premium of £60,000 for the leasehold, fixtures fittings and licences.
The property has mains water, gas and electricity.
ENERGY PERFORMANCE CERTIFICATE
The EPC rating is G
A copy of the EPC and recommendation report can be provided upon request.
By agreement on completion of a formal missive under Scots Law.
Each party will bear their own legal costs. The purchaser/ingoing tenant will be responsible any LBTT due on the purchase.