Prime Retail / Class 3 restaurant unit
Adjacent to new 850,000 sq ft Edinburgh St James development
Located at the east end of the city, on a prime corner position with unparalleled prominence at the junction of Waterloo Place and Leith Street facing directly on to Princes Street, opposite the main entrance of the new Edinburgh St James shopping and leisure development (opening April/May 2021) which will provide 85 shop units alongside 30 F&B units, hotel, leisure and residential accommodation as part of the overall 850,000 sq ft offering, close to a number of hotels and Waverley Railway Station.
Planned over ground and basement levels, additional seating at mezzanine whilst used as a restaurant, and extends to the following approximate net areas.
Ground Floor: 1,123 sq ft / 104.3 sqm
Mezzanine: 155 sq ft / 14.3 sqm
Basement: 476 sq ft / 44.2 sqm
Offers of £70,000 pa on a new lease exclusive of VAT.
Rateable Value: £46,600
UBR (2020/21): £0.498
Rates Payable: £23,207 pa
New 15 year full repairing and insuring lease available subject to 5 yearly upward only rent reviews.
The subjects have a full Class 3 planning consent and alcohol license. They could be used for Class 1 retail or Class 2 office subject to a Change of Use.
This property has an EPC rating of G.
Each party to be responsible for their own legal and professional costs incurred in this transaction. For the avoidance of doubt the ingoing tenant will be responsible for Land & Buildings Transaction Tax (LBTT), registration dues and any VAT payable thereon.
ORINSEN, their clients and any joint agents give notice that:
They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact.
Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It is assumed that the property has all necessary planning, building regulations or other consents and ORINSEN have not tested any services, equipment or facilities.
Purchasers must satisfy themselves by inspection or otherwise.Unless otherwise stated all prices and rents are quoted exclusive of VAT. Prospective purchasers or lessees must satisfy themselves independently as to the incidence of VAT in respect of any transaction.