The subjects comprise an extremely desirable Class 1A premises, currently trading as The Marchmont Art Gallery, arranged over the ground and basement floors of a traditional four storey & basement stone built corner tenement. The subjects benefit from a visible return frontage facing onto both Marchmont Road and Warrender Park Road which encourages great exposure for pedestrians and vehicular passing traffic. Internally, the ground floor comprises an open plan sales area with a small storage area to the rear. The basement, which is accessed via a suspended timber staircase, benefits from abundant storage and WC facilities.
Location
The property is prominently positioned on the south side of Warrender Park Road at the corner of Marchmont Road to the south within the highly sought after Marchmont district of Edinburgh. This location is situated approximately 2 miles south of Edinburgh’s city centre and is well connected with an abundance of bus routes regularly servicing the area. The subjects are located within Marchmont road which acts as a main throughfare from the south side of the city towards the city centre within a well-established secondary retail parade which benefits from a mix of local and national traders including Toast, Marchmont Pharmacy & Sainsbury’s Local.
Accommodation
Ground Floor 40.11 sq m (431 sq ft )
Basement Floor 27.06 sq m (291sq ft )
TOTAL 67.1sq m ( 722sq ft )
Terms
EPC Released on application.
VAT Unless otherwise stated, all prices, premiums and rentals are quoted exclusive of VAT.
RATEABLE VALUE The subjects are entered in the current Valuation Roll at a rateable value of £9,500 which qualifies for 100% rates relied under the Small Business Rates Relief. Please note, a new owner or occupier of a commercial property has the right to appeal this rateable value within 6 months of beginning the tenancy.
ANTI MONEY LAUNDERING REGULATIONS The money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 came into force on 26th June 2017. This now requires us to conduct due diligence not only on our client but also on any purchasers or occupiers.
Specification
- ARRANGED OVER GROUND AND BASEMENT FLOORS
- PASSING RENT £14,000 PER ANNUM
- OFFERS OVER £190,000
- NET INITIAL YIELD OF 7.20%
- FRI LEASE EXPIRING MAY 2025
- CURRENTLY LET TO MARCHMONT ART GALLERY LIMITED