Property Details

3 Ratcliffe Terrace
Edinburgh, Newington

£7,000 P.A.Premium Cost:£26,500

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PropertyDescription

RETAIL UNIT: 48 SQ M (517 SQ FT)
9 Ratcliffe Terrace, Edinburgh EH9 1SX
LEASE DISPOSAL

Location

Ratcliffe Terrace is an extension of the Causewayside area of Edinburgh is located approximately 0.4 miles south of the city centre. It is known to be a desirable area for residential living with a strong business and retail presence in the immediate area.

The property lies close to the junction of Duncan Street and is directly opposite The BP Petrol Station. The area benefits from good footfall and the unit has excellent visibility from passing motorists. Surrounding occupiers include Jewsons, National Library of Scotland and Tesco Express.
Ratcliffe Terrace is known for having high volume of Student residencies and is a main route for Students walking to either George Square or The Kings Buildings respectively.
The area is well-served by public transport with regular bus routes to the city centre and surrounding areas.

Description

Situated over ground level of a traditional stone built four-storey dwelling with a slated roof. Externally the premises form a single fronted unit with two fixed windows and centralised timber door with borrowed light and good signage space above. The unit is tastefully decorated with a good layout internally that suits the current coffee shop occupier with a restricted class 3 current opening hours 8am till 3pm you may wish to open later.
The front area of this unit is open plan serving and seating area with an excellent back shop kitchen prep area and access to the WC and large storage cupboard towards the back shop. The unit is bright with windows to the rear. Internally and externally the property is in good decorative order.

Accommodation

According to our measurement survey, the subjects would comprise the following approximate areas:
Total NIA 38 SQ M (409 SQ FT)

Rating

According to the Scottish Assessors website (www.saa.gov.uk) the subjects have a Rateable Value of £5,700. 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 Details

The rent is £7,000 per annum and there is 9 years left on the lease.
The current tenant is looking for a premium of £26,500 for the leasehold and the fixtures and fittings.

Services

The property has mains water and electricity.
Energy Performance Certificate
The EPC rating is pending.
A copy of the EPC and recommendation report can be provided upon request.

Entry

By agreement on completion of legal formalities.
Legal Costs
Each party will bear their own legal costs. The ingoing tenant or purchaser will be responsible any LBTT due on the lease or purchase.

PropertyOverview

  • Property ID:P539
  • Postal Code: EH9 1SX
  • Status:For Rent
  • Type: commercial
  • Class:3 (Food & Drink)
  • Property Size:n/a sq ft
  • Price:£7,000
  • Premium Cost:£26,500

ExtraInformation

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