• Class 3 investment in popular Newhaven/Bonnington district
• Let until 4th November 2024 at £XXX per annum
• Strong levels of custom from nearby trade park and local residences
• Offers Over £XXX reflecting a NIY of 8.90%
• 110 sq m (1,184 sq ft)
DESCRIPTION
The subjects comprise the ground and basement of a traditional stone tenement building with residential units on three upper floors.
Internally, the premises, which trade as Bonnington Brunch, present a regular shaped customer takeaway area to the front with a staff counter. Behind this is a small office/store and access to the basement and kitchen. The kitchen is a fully fitted commercial style kitchen with an extraction canopy and food prep benches.
The basement is large and provides excellent storage space split across two rooms. Floor to ceiling height is 2.3 metres. There is also a staff WC.
Location
Bonnington Road is situated in north Edinburgh approximately 2 miles from Princes Street and less than a mile from the fashionable Shore in Leith. Historically, Bonnington was once home to sugar bonds, print works and milling but has undergone a transformation over the years resulting in a number of new residential and commercial developments.
The subjects are close to the corners of Newhaven Road and Pilrig Street. It resides directly opposite a popular trade park which includes Screw Fix, Johnston’s Decorating Centre and The Cloth Shop amongst its occupiers.
There is unrestricted street parking on Bonnington Road and surrounding streets whilst local bus routes provide regular services across the city.
Accommodation
According to our recent measurement survey, the subjects comprise the following net internal floor area:
110 sq m (1,184 sq ft)
Terms
PRICE
Offers Over £XXX are invited for our client’s heritable interests reflecting a NIY of 8.9% allowing for standard purchasers’ costs of 1.8%
Specification
TENANCY DETAILS
The subjects are currently let on Full Repairing and Insuring terms, subject to a photographic Schedule of Condition, from 5th November 2003 until 4th November 2024 at a passing rent of £XXX per annum. The lease is subject to a tenant only break option as at 5th November 2021.
A copy of the lease can be provided to interested parties on request.
RATEABLE VALUE
According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have a Rateable Value of £XXX The uniform business rate for the current year is £XXX pence in the pound.
Occupiers may be eligible for rates relief through the small business bonus scheme if the combined rateable value of all their business premises in Scotland is £XXX or less.
UTILITIES
The property is metered for mains electricity, water and gas.
PERMITTED USE
According to the Lease the permitted use of the premises is as a takeaway food shop, delicatessen and outside catering business with ancillary office, storage and car parking.
ENERGY PERFORMANCE CERTIFICATE
A copy of the Energy Performance can be provided upon request.
LEGAL COSTS
Each party shall bear their own legal costs in the course of the transaction with the purchaser liable for any LBTT.
VIEWING AND FURTHER INFORMATION
Strictly by appointment only through the sole selling agent, Allied Surveyors Scotland plc.
ENTRY
Upon completion of a formal missive under Scots Law.