Edinburgh
EH1 1SG
Prime Retail Unit - Lease For Sale
Located on Edinburgh's Royal Mile
The High Street, often referred to as the Royal Mile, is Edinburgh’s most famous street. It runs between Edinburgh Castle and the Palace of Holyroodhouse. Edinburgh Castle is Scotland’s most-visited paid-for
attraction with over 2.7 million visitors. This historic street is busy all year round, especially in August during the Edinburgh Fringe Festival when it becomes the hub of the world’s biggest Arts Festival. The subject property is located in a busy part of the High Street east of Hunter Square, in close proximity to John Knox House. Nearby occupiers include Starbucks, Bella Italia, Black Sheep Coffee and The Radisson Blu Hotel.
The premises are arranged over ground and basement levels and comprise the following approximate net internal areas:
Ground Floor: 846 sq ft / 79 sqm
Basement: 595 sq ft / 55 sqm
Total NIA: 1,441 sq ft / 134 sqm
The basement is accessed via a trap door within the ground floor.
The premises are held on an FRI lease expiring 19th January 2038, with a rent review effective from 20th January 2028 as well as 20th January 2033.
The passing rent is £65,000 pa exclusive of VAT. Premium offers in excess of £75,000 pa plus VAT.
Rateable Value: £46,400
UBR (2023/24): £0.498
Rates Payable: £23,107 pa
The premises benefit from having Class 1A 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 purchaser/tenant will be required to provide certain identification documents. The required documents will be requested at the relevant time.
LEASE FOR SALE
Edinburgh
EH1 1SG
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
Important Notice
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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