The subjects comprise a Class 1A premises arranged over the ground & basement floors of a 3 storey traditional stone property. Internally the property benefits from a reception area with an operation theatre and WC to the rear. There is a basement accessed via a hatch in the front half of the shop. There is a bus stop directly outside the premises making it easily accessible via public transport. Given the units configuration, it would be suitable for a variety of uses subject to the necessary consents & offers a rare local investment opportunity in a highly sought-after neighbourhood
Location
The property is situated on the east side of Newhaven Road near to the junction with Ferry Road which is approximately 2.5 miles to the northeast of Edinburgh city centre. The Newhaven district is a popular neighbourhood comprising a mix of commercial and residential occupiers with nearby commercial tenants including Wilson Ward Solicitors, Mass Barber Shop & Dogcut.
Accommodation
Ground Floor 48.63 sq m (523 sq ft )
Basement 30.75 sq m (331 sq ft )
TOTAL 79.38 sq m (854sq ft )
Terms
Lease The property is currently let on an FRI basis to CVS (UK) LTD until 12 October 2029 at £9,500 per annum, payable quarterly in advance with no further rent reviews or break options. There is a Schedule of Condition attached to the lease.
Rateable Value The subjects are entered in the current Valuation Roll at a rateable value of £6,100. Please note, a new tenant or occupier of a property has a right to appeal this rateable value within 4 months of the beginning of the tenancy agreement and this property may also be applicable for small business rates relief.
Energy Performance Certificate An Energy Performance Certificate is available upon request.
VAT Unless otherwise stated, all prices, premiums and rentals are quoted exclusive of VAT.
Legal Costs Each party to bear their own legal costs in the documentation of this transaction; however the owner/occupier will be responsible for any LBTT, Registration Dues and any VAT incurred thereon
Specification
- Offers over £115,000 Passing rent of £9,500 per annum
- Attractive Net Initial Yield of 8.12%
- FRI lease expiring 12 October 2029
- Rare local investment opportunity in desirable neighbourhood
- Currently let to CVS (UK) LTD T/A Batchelor Davidson & Watson Veterinary Surgeons