The subjects comprise vacant nightclub premises contained within the basement of a multi-storey tenement of traditional construction. We understand the nightclub has been closed for 4-5 years. Accessed from Frederick Street, a stairwell leads down to the basement nightclub, comprising bar area, cloakroom, toilets, bar area, main dance floor and extensive ancillary accommodation to include cellar, kitchen and staff rooms/stores. The lease also incorporates a first floor apartment, currently vacant which could be utilised as additional storage, staff or kitchen accommodation. Re-configuration of the existing accommodation would provide excellent space for a bar/restaurant re-development.
Location
The property is situated on the west side of Frederick Street, equi-distant between its junctions with George Street and Rose Street in the heart of Edinburgh’s New Town. The area bounded by Princes Street, Queen Street, St Andrews Square and Charlotte Square is known locally as the “Golden Rectangle” being the primary Retail and Leisure centre with Edinburgh City Centre.
Accommodation
Basement Public Space - 3595 sq ft
Basement Ancillary Space - 3350 sq ft
Gents + Ladies Toilets -
TOTAL - 6945 sq ft
Terms
TENURE:
Leasehold
SUBJECTS:
Nightclub premises and first floor apartment, 24a Frederick Street and 77-81 Rose Street, Edinburgh EH2 2JR
LANDLORD:
Imperial Tobacco Pension Trustees Limited
RENT PER ANNUM:
9 month Rent free period (from 27th June 2013) then £53,000 for the first 12 month period, increased to £78,000 thereafter until date of first review.
TERMINATION DATE:
June 2038
DURATION:
25 years
RENT REVIEW:
5 yearly
REPAIRING OBLIGATION:
FRI basis
EPC - G