The subjects comprise an attractive licensed restaurant premises arranged on the ground floor of a six storey block with residential and hostel accommodation above. The premises are brick and block construction under pitched and slated roof.
Internally, the subjects have been fitted out to a high standard with a bar area, generous seating area and open plan kitchen facilities along with the normal ancillary WC and disabled toilet facilities to the rear.
There is an extensive open plan preparation area to the rear of the property accessed via double swing doors in the dining room. The kitchen is off the preparation areas and benefits from a full Class 3 extraction system and a serving hatch to the main dining area.
Location
The subjects are located on the south side of Holyrood Road, between the junctions of Viewcraig Gardens and St Mary’s Street, within The Pleasance area of Edinburgh, an area which has benefited from substantial redevelopment in recent years.
Immediately opposite the property the University of Edinburgh has nearly concluded with constructing a further hall of residence which caters for circa 1,000 students and the headquarters of Rockstar Gaming is in close vicinity.
Accommodation
We calculate the gross internal area of the subjects to extend to 133.7m2 (1439ft2) or thereby.
Terms
SALE PRICE/RENTAL
Current Lease Terms:
Tenant – Reekies Smokehouse Limited
Term – 15 years, expires on 13th October 2029
Rent Review Dates – 31st October 2019 and 31st October 2024 – upward only
Passing Rent - £XXX per annum
Full Repairing and Insuring
Our clients are currently seeking offers in excess of £XXX giving a Net Initial Yield of 7.1%.