The subjects comprise retail premises occupying the ground and basement floor of a mid-terraced four storey and basement tenement property of traditional stone construction under a pitched and slated roof. The frontage incorporates a large display window and recessed entrance door.
Internally the property is finished to a high standard and has recently been rewired, with gas fired central heating being provided throughout. The ground floor provides an open plan retail sales area with a further sales/meeting/consultation room to the rear.
The basement offers generous accommodation which is laid out to provide a small tea prep area, w/c facility and a treatment room. The basement is well presented with laminate flooring throughout and a mixture of solid and stud walls with plaster and paint finish. Artificial lighting is provided by integrated spot lights.
Location
Edinburgh, the capital city of Scotland, has a population of circa 480,000 persons and benefits from a substantial catchment area. It is a recognised financial centre and home of the Scottish Parliament, as well as being a popular tourist destination, particularly during the peak summer months. The city is situated on the east coast of Scotland and has excellent transport links via road, rail and air.
The shop is located on the north side of Church Hill Place close to its junction with Morningside Road, one of Edinburgh’s main vehicular routes. Nearby occupiers include James Erskine Interiors, Arden Property Management, The Clay Oven, Salt Café, Rocket Café and Time & Tide. The historic Church Hill Theatre is also situated in the nearby vicinity adding to the areas charm.
Accommodation
The property has been measured in accordance with RICS Code of Measuring Practice - 6th Edition on a net internal basis and is as follows:
Basement - 37.42sqm (402sqft)
Ground Floor - 24.98sqm (270sqft)
Total - 62.40sqm (672sqft)
Terms
TENURE - Heritable interest (Scottish equivalent of freehold) with the benefit of the following existing leasehold interest.
RATING ASSESSMENT - According to the Scottish Association Assessors’ website, the subjects are noted to have a Rateable Value of £XXX per annum. It should be noted under the terms of the Small Business Bonus Scheme, the property maybe eligible for 100% rates relief.
PRICE - Offers in excess of £XXX are invited for our clients’ heritable interest, reflecting a net initial yield of 6.45%.
ENERGY PERFORMANCE - A copy of the Energy Performance Certificate (EPC) for the subjects is available to upon request.
VAT - All prices quoted are exclusive of VAT.
LEGAL COSTS - Each party will be responsible for paying their own legal costs incurred in this transaction.
Specification
- Ground Floor & Basement Retail Unit
- VAT Free Investment
- Situated in affluent Morningside district of Edinburgh
- Net Internal Floor Area: 62.40 sq m (672 sq ft)
- Passing rent of £XXX per annum increasing to £XXX from October 2022
- Offers Over £XXX reflecting a generous net initial yield of 6.45%