100% Prime Pitch Opportunity
Class 3 Consent Now Granted
Unique return frontage
Edinburgh is one of the strongest retailing centres in the UK with a population of over 530,000 people. It is the second most visited city in the UK with over 3.85 million tourists per year. The property occupies 100% prime location within Princes Street, Edinburgh’s principal retailing thoroughfare with significant pedestrian flows throughout the year. This busy thoroughfare benefits from excellent transport links with a nearby tram stop. Waverley Train Station is Scotland’s second busiest station which is a 5 minute walk away. Nearby occupiers include Primark, Burger King, Superdrug and Boots.
The premises are arranged over ground and basement levels comprising the following approximate net internal areas:
Ground Floor: 3,020 sq ft / 280.56 sqm
Basement: 2,594 sq ft / 240.98 sqm
First and second floor accommodation can be made available by separate negotiation.
The property is offered to the market on the basis of a new full repairing and insuring lease for a period to be agreed, incorporating only upward only rent reviews.
On Application. The property has been elected for VAT, therefore VAT will be chargeable on the rent.
Rateable Value: £192,750
UBR (2022/23): £0.524
Rates Payable: £101,001 pa
The premises benefit from having Class 3 restaurant consent. The property has been assessed as Band D. A copy of the Certificate is available upon 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.