The property comprises a prominent Class 3 premises arranged over the ground and basement floors of a traditional four storey stone built tenement. The premises benefit from an attractive glazed frontage allowing for excellent branding opportunities & an abundance of natural light that creates an extremely pleasant environment. Internally, the accommodation is finished to a high standard throughout benefitting from a large open plan seating area, serving area, commercial kitchen and customer & staff WC facilities. The basement floor, which is accessed by a staircase, with separate access from Spottiswoode Road comprises excessive storage space and a staff area.
Location
The property is prominently positioned on the north side of Spottiswoode Road in a block bounded by Marchmont Road to the east and Arden Street to the west within the highly sought-after Marchmont district of Edinburgh. Marchmont is located one mile south from the old town, a vibrant neighbourhood, in close proximity to the Meadows. The subjects are embedded in a dominant student area and surrounded by many reputable commercial occupiers including Sainsbury’s Local, Café Artista & Save the Date Collective. Additionally, the subjects benefit from on street parking within the vicinity.
Accommodation
Ground Floor 126.07 sq m (1,357 sq ft )
Basement 100.15sq m ( 1,078 sqft )
TOTAL 226.22 sq m (2,435sq ft )
Terms
LEASE The subjects are offered on a full repairing and insuring basis for a new lease, incorporating regular rent reviews at an initial rent of £32,500 per annum.
RATEABLE VALUE The subjects are entered in the current Valuation Roll at a rateable value of £34,000 which will result in net annual rates payable of £16,932. 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 small business rates relief.
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 in-going tenant will be responsible for any LBTT, Registration Dues and any VAT incurred thereon.
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
- HIGH LEVELS OF PEDESTRIAN & VEHICULAR PASSING TRAFFIC
- ARRANGED OVER GROUND AND BASEMENT FLOORS
- FULL EXTRACTION DUCTING SYSTEM
- EXTENSIVE FRONTAGE FOR EXCELLENT BRANDING OPPORTUNITIES
- RARELY AVAILABLE CLASS 3 PREMISES IN HIGHLY SOUGHT-AFTER NEIGHBOURHOOD