Warning - This property listing has now expired.

Any changes made to the content of this listing WILL NOT BE SAVED. However, you can still change the property status (i.e. available/sold/let etc).

To renew this property or for further assistance please call 01767 313380 or email renewals@novaloca.com.

Development Opportunity For Sale, Smiths Place, Edinburgh, EH6 8NT

4,790 Sq Ft / Leisure

For Sale - £350,000.00

Under Offer - Last updated: 18 November 2020

The subjects comprise a ground and lower ground floor, former ex servicemans social club. The property is accessed via upper ground floor stairs from the pavement into ground floor level and is connected via two internal staircases on either side of the property to the lower ground floor level. The lower ground floor consists of toilets, kitchen facilities and a large function space within a single storey extension to the rear of the townhouse building under a single pitched roof. The extension and rear boundary of the property backs onto the former Leith tram depot (165 Leith Walk) which has been demolished and is currently being used as a store for the tram extension works on Leith Walk. We believe the property would be suitable for residential development subject to council consents.

Location

The property is situated within the Leith district of Edinburgh, 1 mile north of the city centre Smiths Place is situated adjacent to Leith Walk which is the main pedestrian and vehicle route linking Edinburghs city centre and Leith. The property is specifically located on the north side of Smiths Place which is a dead end street made up of predominately residential townhouse flats. The property will benefit from being in close proximity to Edinburghs new tram extension to Newhaven which will run 50 m from the property. Nearby commercial operators include Raimes Clark Co, The Smiths Place Hotel and Majestic Wines.

Accommodation

Ground Floor 159 sq m (1711 sq ft )

Lower Ground Floor 286 sq m (3078 sq1 ft )

TOTAL 445 sq m (4789 sq ft )

Terms

EPC Released on application.

PLANNING Although the property has no records in the planning portal, we are of the assumption that the property benefits from class 3 consent and an alcohol license. The property would also be suitable for office use and residential development subject to planning consents.

PRICE Our client is seeking offers over £350,000 for the freehold interest of the property with vacant possession.

RATEABLE VALUE The subjects are entered in the current Valuation Roll at a rateable value of £13,100 which allows for 100% rates relief subject to owner or occupier’s circumstances. Please note, a new owner or occupier of a commercial property has the right to appeal this rateable value within 6 months of the beginning of the tenancy.

LEGAL COSTS Each party to bear their own legal costs in the documentation of this transaction; however the ingoing tenant will be responsible for any LBTT, Registration Dues and any VAT incurred thereon.

Specification

  •  FORMER EX-SERVICEMAN’S CLUB WITH CLASS 3 CONSENT 
  • PREMISES EXTENDS TO 445 SQM / 4789 SQFT 
  • POTENTIAL FOR RESIDENTIAL DEVELOPMENT SUBJECT TO CONSENTS 
  • SITUATED IN CLOSE PROXIMITY TO LEITH WALK TRAM SYSTEM 
  • OFFERS OVER £350,000

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
  For Sale £350,000.00 NA

Email me updates about similar new properties


Show similar properties

Contact agents

Steven Clarke

Shepherd Commercial

0131 610 0086



Thank you for your enquiry

The agent for this property will get back to you as soon as possible.

Would you like to view similar properties now?

Many thanks, your enquiry has been sent to the agent

In response to the boxes you ticked, we'd like to send you emails about new & updated properties based on the following (please amend as required):


Please note, NovaLoca will only contact you about commercial property & you can unsubscribe at any time. Your information will not be given to third parties without your permission. For more information please refer to our privacy policy.