Property Details

4 Spittal Street

£10,000 P.A.

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PropertyDescription

• Retail use
• Highly sought-after location
• Excellent footfall
• No rates

LOCATION
The property is located near the junction of Bread Street on the east side of Spittal Street between the junctions of Bread Street and Lady Lawson Street. Bread street continues on to The Royal Mile and runs up the side of Edinburgh Castle.

The area is a short walk from popular tourist destinations such as the Grassmarket and it is only a 5-10 minute walk to Edinburgh's principle retail shops on George Street and Princes Street.

The immediate area offers a range of excellent amenities including a Sainsbury's Local, Odeon cinema and a number of bars and coffee shops on nearby Lothian Road and West Port. The Hilton's Double Tree hotel is close to the subjects.

The area benefits from excellent transport links with regular bus links serving the city centre. In addition, both Haymarket and Waverley train stations are only a short distance from this location. The nearest tram stop is at Shandwick Place.

DESCRIPTION
The subjects, comprise a double windowed unit configured over ground and basement, forming part of a stone-built tenement.

Internally, the subjects comprise of a bright triangular retail area. A timber staircase with balustrade currently beneath a trap door to the front righthand side leads down to the basement. Upon entering the basement level area it is similar in size and shape to the ground floor with the addition to a WC.

Currently the shop is in need of a full renovation at ground floor and basement levels, our client are willing to take this into consideration with incentives for potential tenants.

The subjects would suit a rang of occupiers.

ACCOMMODATION
According to our recent measurement survey the premises contain the following approximate net internal area:

Ground floor: 22.5 SQ M (242 SQ FT)
Basement: 22.5 SQ M (242 SQ FT)

RENT
The landlord is willing to grant a new FRI lease for a minimum 5 year term.
£10,000 per annum.

RATEABLE VALUE
According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have a Rateable Value of £3,450. 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.

UTILTIES
The premises is served by mains electricity and water.

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 in the with the eventual tenant liable for any Registration Dues or LBTT thereon.

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:P510
  • Postal Code: EH3 9DX
  • Status:For Rent
  • Type: commercial
  • Class:1 (Retail)
  • Property Size:484 sq ft
  • Price:£10,000

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