The accommodation comprises ground floor restaurant with a fully fitted bar area to the front of the property near the entrance. The ground floor also accommodates restaurant seating area, open griddle kitchen area, WC facilities and storage. Accessed via stairs in the middle of the subjects, the first floor comprises of further WC facilities, fully fitted kitchen and office accommodation.
Location
The property is situated on the south side of Assembly Street, which is accessed via Baltic Street to the north east. Assembly Street is located approximately 2 miles to the north of the city centre in the Leith district. The subjects are situated in close proximity to Bernard Street which is a continuation of the Leith Shore which is a mixed use hub of restaurants, bars, retailers and offices.
Nearby traders include William Hill, Clydesdale Bank, Royal Bank of Scotland, The Cavern Bar and various local sandwich shop occupiers.
Accommodation
We calculate that the subjects extend to approximately;
Ground Floor - 245 sq m (2,634 sq ft)
First Floor - 105 sq m (1,137 sq ft)
Attic Space - 105 sq m (1,137 sq ft)
Total - 455 sq m (4,908 sq ft)
The attic space, which is not currently in use, has potential to be converted to residential or further office accommodation subject to the relevant consents.
Terms
VAT - The property has been opted to tax so VAT will be payable on the purchase price unless this can be treated as a TOGC.
RATEABLE VALUE - The subjects are entered in the proposed Valuation Roll at a rateable value of £XXX per annum as at 1st April 2017.
Please note, a new tenant or occupier of a property has a right to appeal this rateable value within 6 months of the beginning of the tenancy agreement and this property may also be applicable for small business rates relief.
PRICE - Our client is seeking offers in excess of £XXX for the heritable interest in the property.
LEGAL COSTS - Each party to bear their own legal costs in the documentation of this transaction; however the purchaser will be responsible for any LBTT, Registration Dues and any VAT incurred thereon.
EPC - Available on request.
Specification
- Offers over £XXX
- Fully fitted restaurant premises
- Unit extends to 350m2 (3,770ft2) excluding the attic space.
- Located in the Leith district of Edinburgh
- In close proximity to the shore area of Leith
- Full class 3 restaurant consent
- Opportunity to develop the attic space which will add 1,137 sq ft to the premises.