Retail Investment For Sale, 11, Great Junction Street, Edinburgh, EH6 5HX

The subjects comprise a ground and basement retail premises surmounted by a four storey stone built tenement building and is held under a pitched and slated roof. The subjects benefit from a large glazed frontage and is accessed via an aluminium and glazed pedestrian door.

Internally the unit comprises open plan accommodation which has been partitioned to form both a sales area and a back shop. The ground floor also benefits from a WC and kitchen facility located to the rear of the property. The basement is accessed via a hatch located within the back shop area and provides basic storage accommodation.
( Agency Pilot Software ref: 51779 )

Location

The subjects are located within the Leith District of Scotland’s capital city, Edinburgh, approximately 1.5 miles north of the City Centre upon a main arterial thoroughfare in what would be considered a mixed commercial and residential locality. More precisely the subjects are situated on the south side of Great Junction Street in close proximity to the junction with Leith Walk.

Accommodation

Ground 374 sqft

Basement 419 sqft

Total 793 sqft

Terms

PRICE We are seeking offers over £100,000 for our client’s heritable interest(freehold) within the property equating to a Net Initial Yield of 9.7%.

LEGAL COSTS Each party will be responsible for their own legal costs incurred within this transaction. The purchaser will be liable for any LBTT and registration dues. We understand that the property is opted for tax and therefore VAT would be payable, however, it is anticipated that the sale of the property will be treated as a transfer of going concern (TOGC), under these circumstances no VAT will be payable.

RATEABLE VALUE With reference to the Scottish Assessors Association website, we note the updated Rateable value as of April 2023 will be: £6,700 meaning that the tenant should bene�t from 100% rates relief in line with the small business bonus scheme.

Specification

• The subjects occupy a prominent position on Great Junction Street
• 10 year lease in place with expiry in January 2031
• Rent: £10,000 per annum
• Offers Over £100,000 equating to a Net Initial Yield of 9.7%