Prime Retail / Restaurant To Let
(Subject to Planning)
Edinburgh is Scotland’s Capital with a population of circa 480,000 and an estimated catchment of 1.5m. The subjects occupy a prime retail location on George Street which has cemented itself as Edinburgh’s premier fashion and leisure location. The subjects are located on the North side of the street and benefit from a large double frontage. Nearby occupiers include Hamilton & Inches, Cafe Andaluz, White Stuff, Laings and Jo Malone.
The premises are arranged over ground and basement levels and comprise the following approximate net internal areas:
Ground Floor: 3,641 sq ft / 338.3 sqm
Basement: 2,947 sq ft / 273.8 sqm
The premises are available by way of a new FRI lease.
Proposed Rateable Value: £153,250
UBR (2023/24): £0.524
Proposed Rates Payable: £80,303 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 but may be suitable for alternative uses including Class 3 subject to planning. The property currently has an EPC rating of E.
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.
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.