Lease Disposal
198 Portobello High Street, Edinburgh, EH15 1EX
CLASS 1A RETAIL UNIT
FULLY FITTED SANDWICH BARThe subjects comprise a mid-terraced ground floor retail unit contained within a traditional two-storey stone-built tenement, with residential accommodation on the upper floors.
The unit benefits from a large single glazed aluminium framed display window fronting directly onto Portobello High Street, with customer access taken via an aluminium framed and glazed entrance door positioned to the right-hand side of the frontage.
Internally, the unit is bigger than it appears from the outside the layout has a large service area to the front with some window seating for customers to eat and wait. A large display fridge acts as a counter for the servery behind which is a fully fitted preparation area with coffee machine, oven, panini presses etc as well as some extraction above the oven.
A partition separates another section towards the back of the front area and this house more equipment and the cctv and stainless stell undercounter fridges and baked potato oven. There is a further room to the rear with more equipment and sinks for preparation with a large window. Off this room is a WC, Staff/tea prep kitchen and a large storage cupboard.
The property has a storage basement accessible via a trap door, only suitable for storage.
Location
The property occupies a prominent position on Portobello High Street, within the heart of Portobello, a popular north-east Edinburgh suburb known as “Edinburgh by the sea”. The location benefits from a busy high street setting, close to the beachfront and within easy reach of central Edinburgh.
Portobello High Street provides a wide and varied mix of retail, café, takeaway, restaurant and licensed operators, serving a densely populated residential catchment alongside visitors to the seafront and surrounding area.
The subjects benefit from high passing footfall and vehicular traffic, with good connectivity via Portobello High Street and the A199, providing routes towards Edinburgh city centre, Leith, Joppa, Musselburgh and the city bypass.
Accommodation
ACCOMMODATION
According to our recent measurement survey the premises contain the following approximate internal areas:
Ground floor: 55.5 Sq. m (597 Sq. ft)
Total: 87 Sq. m (931 SQ FT)
Terms
RENT & LEASE TERM
The sitting rent is £15,000 per annum with approximately 6 years remaining (full repairing and insuring) lease. The landlord may extend for a suitable covenant.
PREMIUM
A premium of £40,000 is sought for the leasehold, fixtures and fittings and any remaining goodwill.
Specification
Lease Disposal
198 Portobello High Street, Edinburgh, EH15 1EX
CLASS 1A RETAIL UNIT
FULLY FITTED SANDWICH BAR
LOCATION
The property occupies a prominent position on Portobello High Street, within the heart of Portobello, a popular north-east Edinburgh suburb known as “Edinburgh by the sea”. The location benefits from a busy high street setting, close to the beachfront and within easy reach of central Edinburgh.
Portobello High Street provides a wide and varied mix of retail, café, takeaway, restaurant and licensed operators, serving a densely populated residential catchment alongside visitors to the seafront and surrounding area.
The subjects benefit from high passing footfall and vehicular traffic, with good connectivity via Portobello High Street and the A199, providing routes towards Edinburgh city centre, Leith, Joppa, Musselburgh and the city bypass.
DESCRIPTION
The subjects comprise a mid-terraced ground floor retail unit contained within a traditional two-storey stone-built tenement, with residential accommodation on the upper floors.
The unit benefits from a large single glazed aluminium framed display window fronting directly onto Portobello High Street, with customer access taken via an aluminium framed and glazed entrance door positioned to the right-hand side of the frontage.
Internally, the unit is bigger than it appears from the outside the layout has a large service area to the front with some window seating for customers to eat and wait. A large display fridge acts as a counter for the servery behind which is a fully fitted preparation area with coffee machine, oven, panini presses etc as well as some extraction above the oven.
A partition separates another section towards the back of the front area and this house more equipment and the cctv and stainless stell undercounter fridges and baked potato oven. There is a further room to the rear with more equipment and sinks for preparation with a large window. Off this room is a WC, Staff/tea prep kitchen and a large storage cupboard.
The property has a storage basement accessible via a trap door, only suitable for storage.
ACCOMMODATION
According to our recent measurement survey the premises contain the following approximate internal areas:
Ground floor: 55.5 Sq. m (597 Sq. ft)
Total: 87 Sq. m (931 SQ FT)
RENT & LEASE TERM
The sitting rent is £15,000 per annum with approximately 6 years remaining (full repairing and insuring) lease. The landlord may extend for a suitable covenant.
PREMIUM
A premium of £40,000 is sought for the leasehold, fixtures and fittings and any remaining goodwill.
RATEABLE VALUE
According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have a Rateable Value of £10,200.
The uniform business rate for the current year is £0.49 pence in the pound. Occupiers may be eligible for rates relief through the Small Business Scheme if the combined Rateable value of all their premises in Scotland is £35,000 or less.
UTILTIES
The property is served by mains electricity and water.
The tenant will be liable for these services.
ENERGY PERFORMANCE CERTIFICATE
The Energy Performance Certificate rating is pending.
A copy of the recommendation report is available on request.
LEGAL COSTS
The Assignee and Assignor will be responsible for their own legal costs and any registration dues and any LBTT. Both Assignee and Assignor will share any legal costs 50/50 split incurred by the landlord.
ENTRY
Upon completion of a formal missive under Scots Law.
VIEWING AND FURTHER INFORMATION
By appointment through the sole letting agent, Ime Property Agents Ltd.
info@ime.co.uk 0131 290 2350