LEASE DISPOSAL: 1 EAST PRESTON STREET, EDINBURGH EH8 9QQ
*CAFE LEASEHOLD FOR SALE *
East Preston Street is located in the Newington area of Edinburgh which is approximately 0.5 miles south of Princes Street. It is a continuation of The Bridges and Clerk Street which is a principle route to the Royal Mile and Prince’s Street.
The subject property is situated on the south side of East Preston Street next to Southpour Pub. There are a number of other commercial occupiers in the immediate vicinity including Papa John’s, Ladbrokes, Sainsbury’s Local and Kodak Express.
The area benefits from regular bus services whilst there is a mixture of metered and permit restricted parking on East Preston Street and the surrounding roads.
The subjects comprise a cafe premises well known in the area for years. It forms part of a stone-built tenement comprising commercial and residential occupancy.
The unit has three single glass windows to the front with good signage space above with lighting. Internally the layout suits the current café /takeaway use of the current lease holder, the large front shop doubles up as a serving area, seating area with display fridges, coffee machine and till.
The back area is reached via a long corridor which leads to ladies and gents WC’s on the right-hand side with a small cupboard for storage at the end of the corridor, and the kitchen is to the rear left.
The kitchen is well fitted out with a stand up cooker/hob, panini machine, fryer, bread oven, commericial fridges and freezers, microwave, toaster, commericial sinks etc………
According to our recent measurement survey the premises contain the following approximate net internal area:
52m (560 sq ft)
There is currently four years remaining on a full repairing and insuring lease and the option to extend for a further five years. The rent is currently £8,000 per annum.
A premium guide price or around £35,000 is being sought to obtain the leasehold from our client.
According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have a Rateable Value of £9,400. 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 property 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
VIEWING AND FURTHER INFORMATION
By appointment through the sole letting agent, Ime DJK Group Ltd.
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.
Upon completion of a formal missive under Scots Law