CLOSING DATE: Noon (XXXm) on Friday 5th November 2021
The subjects comprise a C-listed, stone-built corner retail unit arranged over ground and basement with residential flats to the first floor beneath a pitched and slated roof.
The previous occupier traded as a tanning salon and the premises has been configured to suit with a reception area and various rooms and a WC to the rear of the ground floor. The property benefits from two large display windows protected by automatic roller shutters.
The basement provides further partitioned accommodation including treatment rooms and another WC.
Location
Portobello is a highly sought-after suburb of Edinburgh situated approximately 5 miles east of the city centre.
Its popular beachfront promenade and mixture of independent and national retailers on its High Street make it a popular daily destination for shoppers and commuters.
The property is located on the north side of Portobello High Street at the junction of Pipe Street. Nearby commercial occupiers include Scotmid Funerals, The Portobello Bookshop, Mint Indian Takeaway and Root Greengrocer.
Accommodation
According to our recent measurement survey the premises contain the following approximate net internal area:
140 sqm (1,507 sq ft).
Terms
TENURE
Our client is seeking offers over £230,000 for the Heritable interest in the property.
Alternatively, our client will consider leasehold interests and is seeking offers in excess of £18,000 per annum to grant a new lease on full repairing and insuring terms.
RATEABLE VALUE
According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have a Rateable Value of £11,300 effective 1st April 2017. The uniform business rate for the current year is £0.49 pence in the pound.
Occupiers may be eligible for 100% rates relief through the Small Business Bonus Scheme if the combined rateable value of all their business premises in Scotland is £35,000 or less.
UTILITIES
The property is served by mains gas, electricity and water.
VAT
The property is opted for tax and as such VAT will be applicable.
ENERGY PERFORMANCE CERTIFICATE
The Energy Performance Certificate rating is F.
LEGAL COSTS
Each party shall be responsible for their own legal costs incurred in connection with the transaction with the buyer/tenant liable for and Land Building and Transaction Tax (LBTT) and VAT thereon.
VIEWING AND FURTHER INFORMATION
By contacting the sole agent:
Iain W. Mercer BA, AssocRICS
Director of Commercial Agency (East)
0131 357 4455 / 07133 626 887
Iain.mercer@alliedsurveyorsscotland.com
Bernadetta Majewska BSc (Hons)
Graduate Commercial Surveyor
0131 357 4455
Bernadetta.majewska@alliedsurveyorsscotland.com