Prime Retail / Restaurant Unit To Let
Subject to Change
Two Level Trading & Dual Entrance
Edinburgh is Scotland’s Capital with a population of circa 480,000 and an estimated catchment of 1.5m. With its 9 major annual festivals, it attracts over 4m visitors per year. The subjects are located approx. 50 yards from the highly prestigious Royal Mile and benefit from two level trading as well as having two entrances. One entrance opens onto the picturesque Cockburn Street and the other on the west side of North Bridge, one of the key links between the Royal Mile and Edinburgh’s biggest retail development, Edinburgh St James. Nearby occupiers include The Scotsman Hotel, Pret, Bread Meats Bread, Specsavers, Hilton Edinburgh Carlton, Black Sheep Coffee, Pizza Express, Bella Italia and Starbucks.
The property is arranged over ground, basement and sub-basement levels and comprise the following approximate net internal areas:
Ground Floor (Sales): 1,601 sq ft / 148.7 sqm
Basement (Sales): 2,816 sq ft / 261.6 sqm
Sub-Basement: 1,107 sq ft / 102.8 sqm
The premises are available by way of a new FRI lease, subject to vacant possession.
Offers of £145,000 pa are invited.
Proposed Rateable Value: £59,900
UBR (2023): £0.511
Proposed Rates Payable: £30,609 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 consent. The subjects may also be suitable for Class 3 use, subject to obtaining the relevant change of use from the local planning authority. 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 purchaser/tenant will be required to provide certain identification documents. The required documents will be requested at the relevant time.
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.