Edinburgh
EH2 1EP
Prime Retail Unit to Let
Subject to Vacant Possession
Edinburgh has a population of 507,000 and is one of the strongest retailing centres in the UK, dominating its catchment of 1.6 million. Edinburgh is the second most visited city in the UK with over 4 million visitors a year. Tourism provides a boost to the local economy of approximately £1 billion annually. Frederick Street is one of the main streets connecting two of the most established retailing pitches in the city, namely George Street and Princes Street.
The subject property offers a highly prominent frontage on to one of Edinburgh’s main throroughfares. The area houses a number of retail, cafe, office and restaurant occupiers and is less than 50 yards from the well renowned George Street. Nearby occupiers include 63rd & 1st, Eteaket, Cote Brasserie, Tony & Guy and Fat Face.
The property is arranged over ground floor only and comprises the following approximate net internal areas:
Ground Floor (Sales): 1,463 sq ft / 135.9 sqm
Staff / Storage: 202 sq ft / 18.8 sqm
Total: 1,665 sq ft / 154.7 sqm
The premises are available by way of a new FRI lease, subject to obtaining vacant possession.
Rental offers over £80,000 pa are invited.
Rateable Value: £47,500
UBR (2022/23): £0.498
Rates Payable: £23,655 pa
The above figures from the Scottish Assessors Association website are based on the next revaluation in Scotland due to take effect from 1 April 2023. Each interested party should satisfy themselves on business rates with the appropriate authority.
The premises benefit from having Class 1 retail planning consent. An EPC Report is available on request.
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.
In order to comply with anti-money laundering legislation, the successful tenant will be required to provide certain identification documents. The required documents will be requested at the relevant time.
TO LET
Edinburgh
EH2 1EP
Andy Bain
T. 0131 374 1117
M. 07770 524 977
E. abain@orinsen.com
Anna Hansen
T. 0131 374 1114
M. 07717 411 668
E. ahansen@orinsen.com
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.
Published 30.09.20
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