Prime Restaurant/Retail Opportunity
Subject to Vacant Possession
Edinburgh, Scotland’s capital city has a resident population of 520,000 persons and is one of the strongest retailing centres in the UK. The premises occupy a prominent corner position where the highly renowned Princes Streets meets the picturesque Frederick Street. With views of the world famous Edinburgh Castle and some of the highest levels of footfall in the city, makes this one of the most sought after retail or leisure areas in the city. Nearby occupiers include Chisholm Hunter, size? Five Guys, The North Face, Hotel Chocolat and Randox Health.
The subjects benefit from Class 1A and Class 3 planning consent. It also features a large return frontage which wraps around the whole of the ground floor giving incredible views of Edinburgh Castle and the Princes Street valley. In addition, the property benefits from multi level trading, which can be used to suit specific occupier’s needs.
The premises are arranged over ground, basement, first, second and third floor levels and comprise the following approximate net internal areas:
Ground Floor Sales: 1,824 sq ft / 169 sqm
Basement: 550 sq ft / 51 sqm
First Floor Sales: 1,536 sq ft / 143 sqm
Second Floor: 1,579 sq ft / 147 sqm
Third Floor: 1,291 sq ft / 120 sqm
NIA: 6,780 sq ft / 630 sqm
The premises are available on a new full repairing and insuring lease. Subject to vacant possession.
Offers in excess of £220,000 pa are invited.
Rateable Value: £150,000
UBR (2023/24): £0.524
Rates Payable: £78,600 pa
The landlord has now secured Class 3 Restaurant Consent under the Town & Country Planning (Use Classes)(Scotland) Order 1997. Therefore, the subjects can be used for Class 1A or Class 3 restaurant consent. EPC rating 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.
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.