• Attractive café investment let to established business operator
• Let until 30th June 2021 at £XXX per annum
• Close to The Meadows and busy Tollcross area
• Offers Over £XXX reflecting a Net Initial Yield of 7.23%
• VAT not applicable
DESCRIPTION
The subjects comprise the ground and basement floors of a traditional stone tenement building with residential over four floors above beneath a pitched and slated roof.
Internally, the premises, which trade as Yellow Deli, are brightly decorated and neatly presented offering an open plan customer seating area and food preparation/staff counter. There is a spiral staircase to the rear of the unit which leads down to the basement level. This area provides for a staff WC and shower, preparation areas and a separate store room.
Location
Brougham Street (A700) is a continuation of the busy Tollcross junction connecting directly with Melville Drive which leads through The Meadows. It is approximately 1 mile south of Princes Street and benefits from close proximity to the city’s Financial District.
The subjects are situated on the west side of Brougham Street opposite Panmure Place. It forms part of a parade of commercial units dominated predominately by residential tenements.
Commercial occupiers in the vicinity of the property are a mixture of national and local retailers. Machina Espresso, Bombay Bicycle Club and Cloisters Bar are all nearby with Bank of Scotland and Boots only a short distance away.
Accommodation
According to our recent measurement survey, the subjects comprise the following net internal floor area:
41.16 sq m (443 sq ft)
Terms
PRICE
Offers Over £XXX are invited for our client’s heritable interests in the subjects reflecting a Net Initial Yield of 7.23% allowing for purchasers’ costs of 1.8%.
VAT
We understand the property has not been opted to tax, so no VAT is payable on the purchase price.
Specification
TENANCY DETAILS
The Lease, originally in favour of Jan Michal Dziamba, was Assigned effective 1st July 2012. The property is let on full repairing and insuring terms until 30th June 2021 at a passing rent of £XXX per annum.
A copy of the Lease and Assignation 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 and water and there is no gas.
USE
We understand the premises is a café benefitting from restricted Class 3 (Food and Drink) use.
ENERGY PERFORMANCE CERTIFICATE
A copy of the Energy Performance Certificate 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.