Attractive NIY of 6.52%
Lease Expiry 14 November 2039
Lothian Road is a major arterial route leading directly to and from Princes Street – Edinburgh’s principal retail destination. Lothian Road is an established leisure destination which hosts a variety of bars and restaurants and benefits for high levels of footfall. The Grassmarket, Edinburgh’s Financial District and a number of hotels are within 5 minutes walk. The property is located close to the famous Usher Hall.
Ground floor: 543 sq ft / 50.44 sqm
ITZA: 454 sq ft / 42.17 sqm
Our clients are seeking offers in excess of £370,000 giving a net initial yield of 6.52% assuming purchaser costs of 3.69%.
The subjects currently benefit from Class 3 (hot food) consent.
Rateable Value: £23,400
UBR (2020/21): £0.498
Rates Payable: £11,653 pa
The subjects are let on an FRI basis to Belgian Frites Ltd (SC639070) at a rent of £25,000 pa (£55 psf Zone A). The lease expires on the 14/11/ 2039. The landlord also holds a rental deposit of £10,000 for the duration of the lease.
All sums quoted are exclusive of VAT. Each party to be responsible for their own legal and professional costs incurred in this transaction.
This property has an EPC rating of G.
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.