Prime Retail Investment
Edinburgh is Scotland’s capital city and the historic, administrative and financial centre of the country, as well as the home of the Scottish Parliament.
It is the second most visited city in the UK with an average 4 million visitors per year, injecting £1.2 billion into the local economy. Edinburgh has a population of 553,000 people which extends to 1.6 million people within the broader city region.
Princes Street is one of the most sought-after destinations in the city centre with an annual footfall in excess of 15 million people. The subject property occupies 100% prime position between its junctions with Frederick Street to the west and Hanover Street to the east. Nearby occupiers include Primark, Chisholm Hunter, Kiko, Superdrug, size?, Schuh and Boots.
The subject property is arranged over lower ground, ground, first, second and third floor levels of a traditional Georgian tenement building and extends to the following approximate net internal areas:
Lower Ground Floor: 600 sq ft / 55.74 sqm
Ground Floor: 741 sq ft / 68.84 sqm
First Floor: 1,556 sq ft / 144.55 sqm
Second Floor: 1,353 sq ft / 125.69 sqm
Third Floor: 1,200 sq ft / 111.48 sqm
Total: 5,450 sq ft / 506.30 sqm
We are instructed to seek offers in excess of £1.5 million exclusive of VAT, for our client’s heritable interest.
The lower ground floor is let to Mobile Plus. The lease is held on full repairing and insuring terms.
The remaining floors are let to Black Sheep Coffee on full repairing and insuring terms.
Rateable Value: £99,600
UBR (2023/24): £0.524
Rates Payable: £52,190 pa
The subject premises benefit from Class 1A consent. The property 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.
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.