Prime Retail/Restaurant Unit
Edinburgh, Scotland’s capital has a resident population of c.500,000 which increases by virtually 4 million visitors that the city attracts annually thereby making it one of the strongest retailing centres in the UK. The subjects are located within 100% prime section of the Royal Mile. Nearby occupiers including Starbucks, Byron, Boots, Filling Station, Caffe Nero, Woollen Mill and Bella Italia.
The subjects are arranged over basement, ground and first floors with a fitted kitchen and large seating area fronting on to the High Street at first floor level.
The unit extends to the following approximate net areas:
Ground Floor: 675 sq ft / 62.71 sqm
Basement: 832 sq ft / 77.30 sqm
First Floor (kitchen/diner): 3,299 sq ft / 306.48 sqm
The property is yet to be separately assessed for rating purposes.
Rateable Value: £145,750
UBR (2020/21): 52.4p
Rates Payable: £76,373 pa
Rental offers in excess of £120,000 pa exclusive are invited for this extremely rare opportunity.
The subjects are available on a new FRI lease to be agreed between both parties but subject to a minimum of 10 years.
EPC Rating – to be assessed. The premises benefit from a Class 3 restaurant planning consent and also have the benefit of a premises license for the sale of alcohol.
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.