The subjects comprise a ground floor retail unit to the front with a lower ground floor section to the rear of the property. The front projection from which the main sales area lies is of single storey nature, built in traditional stone and surmounted by a flat roof. The lower ground floor section is situated underneath the traditional three storey tenement building surmounted by a pitched and slated roof.
The property is a prominent corner unit with a large traditional frontage with 3 single glazed timber display windows to the front, with access being taken through a recessed entrance.
Internally the subjects are laid out to provide a large open plan sales area to the front, which also currently has a small office and therapy room built in. The main sales area is well presented with a mixture of solid and stud walls and the flooring being a mixture of solid concrete and suspended timber with a carpet covering. Artificial lighting is provided by way of recessed fluorescent strip lights within the suspended tile ceiling.
To the rear of the property and accessed via a small staircase, there is further storage, tea preparation and w/c facilities.
Location
The subjects lie on the east side of Newington Road near to its junction with South Clerk Street and in between East Preston Street and Salisbury Place. Newington Road is one of the main thoroughfares into Edinburgh’s City Centre from the south side, leading directly to the east end of Princes Street.
Newington Road and the surrounding streets are filled with local and national occupiers and in close proximity to the subjects there are national operators such as Boots, the Salvation Army and Pizza Hut as well as a mixture of more local businesses such as barber shops, independent restaurants and letting agents.
Accommodation
The property has been measured in accordance with RICS Code of Measuring Practice - 6th Edition on a net internal basis and is as follows - 124 sq m (1335 sq ft)
Terms
RATEABLE VALUE:
According to the Scottish Assessors’ Association website, the subjects are noted to have a Rateable Value of £15,600 per annum.
Therefore any potential occupiers could benefit from 25% rates relief in line with the Small Business Bonus Scheme.
LEASE TERMS:
The property is available for lease for a negotiable period of time at offers over £22,000 per annum.
SALE TERMS:
Our client may consider selling the property. The sale terms can be provided on application.
ENERGY PERFORMANCE:
A copy of the Energy Performance Certificate (EPC) for the subjects is available upon request.
VAT:
All prices quoted are exclusive of VAT which maybe chargeable.
LEGAL COSTS:
Each party will be responsible for paying their own legal costs incurred in this transaction.
ENTRY:
Upon completion of legal formalities.
Specification
- Prominent ground floor corner unit on main arterial route
- Good quality open plan retail/office space
- Suitable for a variety of alternative uses (STP)