The subjects comprise a multi-windowed retail unit arranged over the part ground and basement floors of a traditional four storey and basement tenement block. Internally the property consists of an open plan retailing space with small staff room and store while the basement consists of three large rooms and WC facilities. Nearby occupiers include Boots the chemist, Apiary Restaurant, Southpour Bar and Ladbrokes.
Location
The property is located on the west side of Newington Roadbetween the junctions of West Newington Place to the southand West Preston Street to the north within the Newingtondistrict of Edinburgh, approximately 1 miles to the east ofthe city centre. Newington Road forms part of the A701 trunkroad which leads a high volume of traffic from Cameron Tollin the south towards the east end of Princes Street via theNorth and South Bridges.
Accommodation
We calculate that the subjects net internal area extends to approximately;
Ground Floor 69.58m² (749ft²)
Basement 76.55m2 (824ft2)
Total: 146m2 (1,573ft2)
Terms
RATEABLE VALUE
The subjects are entered in the current Valuation Roll at a rateable value of £14,200 per annum. Please note, a new tenant or occupier of a property has a right to appeal this rateable value within 6 months of the beginning of the tenancy agreement and this property may also be applicable for rates relief on application by tenant.
LEASE TERMS
The subjects are offered on a full repairing an insuring basis for a term to be agreed incorporating regular rent reviews at an initial rental of £12,000 per annum.
PRICE
Offers over £145,000 to purchase the freehold interest.
VAT
Unless otherwise stated, all prices, premiums and rentals are quoted exclusive of VAT.
EPC
Released on application.
LEGAL COSTS
Each party to bear their own legal costs in the documentation of this transaction; however the purchaser will be responsible for any LBTT, Registration Dues and any VAT incurred thereon.
Specification
• Ground floor and basement retail unit
• Located in the Newington District of Edinburgh
• Offers in excess of £12,000 per annum to let
• Offers in excess of £145,000 to purchase
• Premises extends to 146m2 (1,573ft²)
• Benefits from small business rates relief
• Historically occupied as office use