The subject comprises an extensive retail unit arranged over ground and basement with a two-storey building. The upper floor is in residential use.
The property benefits from a triple window frontage and dual entrances with prominent signage above. Internally, the premises provides open plan retail space with a suspended ceiling, strip lighting and painted plasterboard walls. To the rear of the ground floor is a store which is supplemented by additional stores and staff facilities in the basement.
The back wall of the property contains a number of bricked up window openings which could be reinstated.
Location
St John’s Road is a principal route and thriving retail thoroughfare running through Edinburgh’s affluent Corstorphine area, approximately 5 miles west of Princes Street.
The subject is situated on the south side of St John’s Road opposite Bank Drive and close to the Drumbrae Roundabout.
The area is mixed residential and commercial with nearby occupiers including: Guitar Guitar, Mimi’s Bakehouse, Royal Bank of Scotland and Corstorphine Lodge Hotel.
Accommodation
According to our recent measurement survey the premises contain the following approximate net internal area:
184 sq m (1,980 sq ft)
Terms
RENT
Our client is seeking rental offers of £42,500 per annum to grant a new lease.
LEASE TERMS
The premises are available for let on full repairing and insuring terms for a period to be negotiated.
RATEABLE VALUE
According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have a Rateable Value of £23,700 effective 1st April 2023. The uniform business rate for the current year is £0.498 pence in the pound.
UTILITIES
The property is served by a 3-phase electricity supply and mains water.
ENERGY PERFORMANCE CERTIFICATE
The Energy Performance Certificate rating is D.
A copy of the recommendation report is available on request.
LEGAL COSTS
Each party shall bear their own legal costs with the eventual purchaser liable for any LBTT and Registration Dues.
ANTI-MONEY LAUNDERING
The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 came into force on 26th June 2017. This now requires us to conduct due dilligence not only on our client but also on any purchasers or occupiers. Once an offer has been accepted, the prospective purchaser(s)/occupier(s) will need to provide, as a minimum, proof of identity and residence and proof of funds for the purchase, before any transaction can proceed.
ENTRY
Upon completion of a formal missive under Scots Law.