The subjects comprise a double-fronted retail unit arranged over ground and basement floors of a traditional 4 storey premises of stone construction, surmounted by a flat roof with what we assume to be a bituminous felt or similar type covering.
Located to the side/rear of the premises is a single-storey store/workshop section surmounted buy a mono-pitch roof. This section can be further accessed to the rear of the retail premises.
Internally, the subjects comprise various treatment rooms, a reception area, office space and storage. The subjects further benefit from a good-sized basement, access of which can be accessed via two separate staircases, to each side of the property.
Location
The subjects are located on Tanfield, which forms part of Inverleith Row to the west, and is situated between the junctions of Brandon Street and Inverleith Terrace within the New Town district of Edinburgh.
Tanfield, within the New Town area, is specifically located to the north of the city centre, approximately 500m from the affluent area of Stockbridge and less than a mile from George Street, Princes Street and Edinburgh’s east end.
The area is mixed in character with primarily commercial occupiers at ground floor level and private residential dwellings above. Nearby commercial occupiers include Duncan & Reid, Knots about Rugs, Tanz Tanning and Powderhall Bronze Editions.
Accommodation
We have measured the property in accordance with the RICS Code of Measuring Practice 6th Edition on a Net Internal Area basis in the order of:
Ground Floor Retail/Offices/Treatment: 91.11 sq m (981 sq ft)
Ground Floor Rear Store/Workshop: 49.50 sq m (533 sq ft)
Basement: 90.15 sq m (970 sq ft)
TOTAL NIA: 230.76 sq m (2,484 sq ft)
Terms
PLANNING CONSENT - We understand the premises to currently benefit from class 1A planning consent.
Our client has further obtained planning consent for the rear store/workshop premises to develop a 2 storey / 2-bedroom residential dwelling/mews style property. Further details can be found on the City of Edinburgh Council Planning Portal, quoting reference number 22/02655/FUL. We would recommend all interested parties make their own enquiries with regards to any planning consent/proposed developments to the City of Edinburgh Council Planning Department.
SALE TERMS - Our client is seeking offers over £475,000 (VAT is not applicable) for the outright purchase of their heritable interest.
Our client has advised that sales of the retail unit and the rear store/workshop that benefits from planning permission may be considered on an individual basis as separate lots.
RATEABLE VALUE - According to the Scottish Assessors Association website, the property has a current rateable value of £16,200 per annum. This means that potential occupiers may be eligible for some form of rates relief under the small business bonus scheme.
ENERGY PERFORMANCE CERTIFICATE - The property has an EPC rating of # and a copy of the certificate is available to interested parties on request.
LEGAL COSTS - Each party shall bear their own legal costs in connection with the transaction although in the normal manner the purchaser will be liable for land & buildings transaction tax and registration dues.
VAT - VAT is not applicable in this instance.
DATE OF ENTRY - Entry will be upon completion of legal formalities for a date still to be mutually agreed.
Specification
- Unique opportunity to purchase vacant retail/store/workshop premises in Edinburgh’s New Town district
- Situated specifically within the affluent area of Tanfield/Inverleith
- Rear store/workshop benefits from planning consent for 2-bedroom
- 2-storey residential dwelling/mews style premises (22/02655/FUL)
- May consider sale/purchase of the site as an entirely or in separate lots
- Total NIA of 230.76sqm (2,484sqft)
- Offers over £475,000 (VAT free purchase)