Prime Commercial Property Suitable For Alternative Uses
Residential or Commercial Use
Hanover Street is situated in Edinburgh’s highly desirable and prestigious New Town, which is both a UNESCO World Heritage site and one of the city’s most affluent and sought after residential areas. The property is situated in a prime location within Edinburgh’s retail and leisure centre. George Street acts as the city’s main retail parade and a thoroughfare to the new prestigious Edinburgh St James Quarter. Hanover Street boasts easy access to Waverley Station, frequent bus and tram services, the city’s extensive cycle network, Edinburgh International Airport, the city bypass and central Scotland’s motorways.
The premises are located on the west side of Hanover Street in the block bounded by Rose Street to the south and George Street to the north. Nearby occupiers include Pret a Manger, JoJo Maman Bébé, Bibi’s Bakery, Oliver Bonas and Lakeland. The property is ideally situated to take advantage of all that Edinburgh has to offer.
56 (1F) Hanover Street is a splendid first floor flat in a sought after city centre location. The attractive property retains many of its original quality period features. The property benefits from shared entrance via Hanover Street and on street resident permit parking. The premises are arranged over first floor and comprise the following approximate net internal area:
First Floor: 1,818 sq ft / 168.95 sqm
Prime opportunity suitable for owner occupation or residential conversion. All planning consents can be viewed on the Edinburgh planning portal. The property is currently leased to Number One Currency Ltd until 1 November 2025 however there is a break clause in the lease which has been exercised and will provide vacant possession on 1 December 2022.
Offers over £495,000 sought for freehold interest.
Rateable Value: £25,300
UBR (2021/22): £0.49
Rates Payable: £12,397 pa
The premises have Class 2 consent. They have also received planning consent for conversion and alteration to the existing office to form either a residential flat or two residential flats.
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 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.