St Leonards Street is located in the popular Newington area and is only a few minutes walk from Arthur’s Seat and surrounding parkland, it is approximately 0.25 miles south of the city centre and is known to be a desirable area for residential living with a strong business, retail presence and a vast student population in the immediate area.
The property lies close to the junction of Rankeillor Street and almost opposite the St Leonards Police Station with excellent transport links close by. The area benefits from good footfall and excellent visibility from passing motorists. There is a whole host of high end unique eateries with bars and restaurants popping up more and more in this area such is its growing popularity.
The area is known for having high volume of Student residencies and is a main route for Students walking to either George Square or Edinburgh Sport University respectively. It is well-served by public transport with regular bus routes to the city centre and a short walk to Waverley train station and surrounding areas.
Situated over ground and basement levels of a traditional stone built five - storey dwelling with a slated roof. The unit is in need of some modernisation and may suit an investor looking for commercial property to add to their property portfolio.
The Property is Class 1 retail at the moment with a bright open shop front on the ground floor, there is then a large roomy basement area which could be used as office space/storage etc.
There is a WC and separate sink area in the basement with plenty of room to include a kitchen/Kitchenette area if required. There is also a fire exit leading to the common stair/back garden.
According to our measurement survey, the subjects would comprise the following approximate areas:
Total 82 SQ M (883 SQ FT)
As the property was previously part of a larger retail unit it will need to be re-assessed by the Lothian Joint Valuation Board. The uniform business rate for the current year is £0.498 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 being marketed at offers over £105,000
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.
By agreement on completion of legal formalities.
Each party will bear their own legal costs. The ingoing tenant or purchaser will be responsible any LBTT due on the lease or purchase.
Council tax band: X, Tenure: Freehold,