Prime Retail Property
Subject to Vacant Possession
Edinburgh, Scotland’s capital city has a resident population of 495,000 people and is one of the strongest retailing centres in the UK. Princes Street is Edinburgh’s prime retailing thoroughfare. The subjects occupy a prime position within the Street benefitting from significant pedestrian flows throughout the year. Nearby occupiers include River Island, Levis, Urban Outfitters and Boots. The unit sits adjacent to the former Debenhams store where a new mixed use development is to be anchored by a 207 plus room (100,000 sq ft) Marriott Tribute Hotel.
The premises are arranged over ground and basement floors and comprise the following approximate net internal areas:
Ground Floor Sales: 1,442 sq ft / 133.96 sqm
Basement: 593 sq ft / 55.09 sqm
The subjects are available on a new FRI lease.
Offers over £140,000 pa exclusive of VAT are sought.
Proposed Rateable Value: £110,750
UBR (2023/24): £0.524
Proposed Rates Payable: £58,033 pa
The premises benefit from Class 1A consent. This property has an EPC rating of C.
Entry will be available from end of September 2023.
Each party will be responsible for their own legal costs incurred in connection with 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.