The subjects comprise an attractive Class 1A premises, currently trading as Bruach Ltd, arranged over the ground and basement floors of a traditional four storey & basement stone built mid terraced tenement. The subjects benefit from a large glazed frontage, capturing natural light & offers great exposure for vehicular passing traffic and pedestrians. Internally, the accommodation has been refurnished to an exceptional standard and comprises front sales area, back shop and WC compartment to the rear. The basement is currently utilised as storage space
Location
The property is situated on the east side of Ratcliffe Terrace within the Newington district of Edinburgh, approximately 2 miles south of the city centre. Ratcliffe Terrace forms a continuation of Causewayside, a prominent vehicular route carrying large volumes of footfall and traffic in & out of the city centre. The premises occupies a prominent position on a wellestablished secondary retail parade which offers a good mix of local & national occupiers. The nearby commercial occupiers include, Jewsons Builders Merchants, BP Petrol Station, Old Bell Pub, Coffee Point Café and Tesco Express.
Accommodation
Ground Floor 39.66 sq m (427 sq ft )
Basement Floor 26.39sq m ( 306 sq ft )
TOTAL 68.05 sq m (733sq ft )
Terms
PRICE Our client is seeking offers in excess of £135,000 reflecting a NIY of 7.43%, assuming purchaser's costs of 1.75%.
TENANCY The subjects are let on an FRI basis to Bruach Ltd at a rental of £10,200 per annum, with the next review in March 2026. The lease began in March 2023 and expires March 2028. There is a tenant break option on the third anniversary of the lease giving no less than 6 months written notice.
LEGAL COSTS Each party to bear their own legal costs in the documentation of this transaction; however the in-going tenant will be responsible for any LBTT, Registration Dues and any VAT incurred thereon.
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 £7,700 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 4 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. Once an offer has been accepted, the prospective purchaser(s)/occupier(s) will need to provide, as a minimum, proof of identity and residence and proof of funds for the purchase, before the transaction can proceed.
Specification
- PASSING RENT £10,200 PER ANNUM
- OFFERS OVER £135,000
- NET INITIAL YIELD OF 7.34%
- FRI LEASE EXPIRING MARCH 2028
- CURRENTLY LET TO BRUACH LTD