The subjects comprises a rare four storey Georgian Townhouse property which is currently occupied but due to be refurbished upon lease expiry. The offices are accessed via a grand entrance at ground floor level which benefits from a client waiting area, meeting space and two offices. The property benefits from four floors of further offices/meeting rooms, kitchen/tea prep and storage facilities with the lower ground floor consisting of a rear extension offering a large open plan office space with access into the rear garden. The building will be cosmetically refurbished upon expiry of the current lease in May 2022 for which the specifications can be obtained on request. Floor plans of the building are also available on request.
From the front elevation offices of the building, a tenant enjoys stunning views over the exclusive Rutland Square and private Rutland Square Gardens which a tenant would have access to. Alternative access is available at lower ground from pavement stairs on Rutland Square as well as rear access to garden level. Given that the property is currently solely occupied and self-contained, there is no service charge in place. The property benefits from pay and display parking in Rutland Square and the surrounding West End for staff and visitors. The landlord also has two car parking spaces available at Torphichen Street Lane which can be rented by separate negotiations.
Location
The subjects are located on the north side of Rutland Square which is specifically located in the city centre of Edinburgh, Scotland’s capital city. Rutland Square is a renowned prestige office address and comprises of townhouses which are mainly offices or private residential houses. Rutland Square is easily accessible with great public transport links such as the West End Tram Hault and Lothian bus stops on Shandwick Place. Rutland Square is located in an area of the city centre which has an abundance of local amenities for staff including bars, restaurants, coffee shops and gyms. Albeit located in a very central location, Rutland Square is a very quiet square historically and offers tenants a peaceful setting while still benefiting from being in such a central location. The property has an abundance of local amenities including Sainsburys local and various sandwich shops such as Fox & Co and Herbies located on William Street. The area also hosts many popular bars and eateries including The Waldforf Hotel, Teutchers & The Johnny Walker Experience.
Accommodation
Lower Ground Floor 109 sq m (1,181 sq ft )
Ground Floor 75sq m ( 805sq ft )
1 st Floor 89 sq m (956sq ft )
2 nd Floor 74 sq m (794sq ft )
TOTAL 347sq m ( 3,736sq ft )
Terms
RATEABLE VALUE The subjects are entered in the current Valuation Roll at a combined rateable value of £58,500 which will result in net payable rates of approximately £28,665 per annum. A new occupier has the right to appeal the rateable value within 6 months from their date of entry.
RENTAL/PRICE The subjects are offered on a full repairing and insuring basis on a new lease, incorporating regular rent reviews at an initial rent of £25psf.
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.
EPC The Property benefits from an EPC Rating of D.
VAT Unless otherwise stated, all prices, premiums and rentals are quoted exclusive of VAT
Specification
- OFFICE EXTENDS TO 3,736 SQFT OVER FOUR FLOORS
- DUE TO BE REFURBISHED PRIOR TO NEW TENANT OCCUPATION
- IN CLOSE PROXIMITY TO EDINBURGH WEST END TRAM STOP AND HAYMARKET RAILWAY STATION
- TWO WEST END CAR PARKING SPACES AVAILABLE BY SEPARATE NEGOTIATION