The subjects comprise a class 3 restricted licensed premises. It forms part of a stone-built tenement comprising commercial and residential occupancy.
The unit is a glass fronted unit with good signage space above. Internally the layout suits the current Coffeeshop/Deli use and some retail, the front shop doubles up as a serving area with comfortable seating area for customers including display fridges for products and sales.
The back shop has two large rooms, one is extra seating or a breakout/private space and the other is used as a stock/storage area. The W.Cs are located off the corridor that leads from front shop to back shop.
The property is neat and tidy and in good decorative order both internally and externally.
Location
The subjects are on South Clerk Street which is situated in the south of Edinburgh city centre, a popular continuation of Clerk Street which leads directly to the Bridges, Royal Mile and the east end of Princes Street.
Newington is a particularly scenic area of Edinburgh with local landmarks such as Salisbury Crags, Arthurs Seat and the Meadows all near each other. There is a strong student population in the immediate vicinity and a wide range of shops, bars and cafes nearby.
There are regular bus links to the city centre but several of Edinburghs tourist and festival attractions, such as the Royal Mile and Edinburgh Castle are within walking distance. Other local facilities include: The Queens Hall, Festival Theatre, National Museum of Scotland and the Commonwealth Pool.
Accommodation
According to our recent measurement survey the premises contain the following approximate net internal area:
63m (678 sq ft)
Terms
THE LEASE - There is currently six and a half years remaining on a full repairing and insuring lease.
The rent is currently £15,000 per annum. There is scope to extend the lease for potential buyers as landlord and tenant have a good relationship.
ALCOHOL LICENSE - The property is licensed for on and off sales between 10am 11pm seven days per week
PREMIUM - A premium guide price of £21,500 is being sought to acquire the leasehold, fixtures and fittings.
RATEABLE VALUE - According to the Scottish Assessors website (www.saa.gov.uk) the subjects have a Rateable Value of £11,200. The uniform business rate for the current year is £0.49 pence in the pound.
UTILTIES - The property is served by mains electricity and water.
ENERGY PERFORMANCE CERTIFICATE - The Energy Performance Certificate rating is Pending
A copy of the recommendation report is available on request
LEGAL COSTS - Each party shall bear their own legal costs in the preparation of the lease with the eventual tenant liable for any Registration Dues or LBTT thereon.