Property Details

96 South Clerk Street
Edinburgh, Newington

£10,000 P.A.Premium Cost:£65,000

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PropertyDescription

BUSINESS SALE/LEASE DISPOSAL: 96 SOUTH CLERK STREET, EDINBURGH EH3 9LY

* LEASEHOLD FOR SALE *

LOCATION
The subjects are on South Clerk street which is situated in the south of Edinburgh city centre, a popular continuation of Clerk Street which leads directly to the Bridges, Royal Mile and the east end of Princes Street.
Newington is a particularly scenic area of Edinburgh with local landmarks such as Salisbury Crags, Arthur’s Seat and the Meadows all in close proximity to each other. There is a strong student population in the immediate vicinity and a wide range of shops, bars and cafe’s nearby.
There are regular bus links to the city centre but several of Edinburgh’s tourist and festival attractions, such as the Royal Mile and Edinburgh Castle are within walking distance. Other local facilities include: The Queen’s Hall, Festival Theatre, National Museum of Scotland and the Commonwealth Pool.

DESCRIPTION
The subjects comprise a class 3 premises with consent for hot food takeaway. It forms part of a stone-built tenement comprising commercial and residential occupancy.
The unit is a glass fronted unit with good signage space above. Internally the layout suits the current takeaway use, the front shop doubles up as a serving area with comfortable waiting area including display fridges for products and sales. Behind the counter displays is the extraction canopy, cooking equipment and preparation space.
The back shop is almost equal in size, it is well laid out with sinks, fridges, freezers, prep area’s, pizza oven and shelving systems to keep everything neat and tidy.
The WC is located to the rear of the back-shop area.
The property is neat and tidy and in excellent decorative order both internally and externally.

THE BUSINESS
Trading as ‘Ephesus’ the Takeaway is one of the most popular well known kebab houses in the South side of Edinburgh.
Ephesus has created a strong student following due to it’s ideal location in the heart of student central. A very high residential and plenty of night life adds to the local trade of the business.The shop has a great reputation for it’s food, service and cleanliness.
The average weekly turnover is very good and can be discussed with the owner during or after viewing the property. The business benefits from a late licence open 1am weeknights and 2am on the weekends

ACCOMMODATION
According to our recent measurement survey the premises contain the following approximate net internal area:
31m (334sq ft)

THE LEASE
There is currently five years remaining on a full repairing and insuring lease.
The rent is currently £10,000 per annum. There is scope to extend the lease for potential buyers as landlord and tenant have a good relationship.

PREMIUM
A premium guide price of £60,000 is being sought to acquire the leasehold, the business and fixtures and fittings.

RATEABLE VALUE
According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have a Rateable Value of £7,500. 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.

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

ENERGY PERFORMANCE CERTIFICATE
The Energy Performance Certificate rating is Pending
A copy of the recommendation report is available on request

VIEWING AND FURTHER INFORMATION
By appointment through the sole letting agent, Ime DJK Group Ltd.
LEGAL COSTS
Each party shall bear their own legal costs in the preparation of the lease with the eventual tenant liable for any Registration Dues or LBTT thereon.

ENTRY Upon completion of a formal missive under Scots Law

PropertyOverview

  • Property ID:P607
  • Postal Code:Eh8 9PT
  • Status:For Rent
  • Type:commercial
  • Class:3 (Food & Drink)
  • Property Size:334 sq ft
  • Price:£10,000
  • Premium Cost:£65,000

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