The subjects are configured over the ground floor and comprise a newly refurbished single window retail unit, with a recessed door to the right-hand side, protected by an ornate gate. There is one floor of residential property above. The frontage is very traditional and looks good with the new paint and excellent signage space above.
Upon entry the front shop is open plan with a spiral staircase leading to the basement at the rear of the property The main ground floor area is clean and tidy with polished brick walls either side and would make a great small, shared office or retail area. The basement houses the WC and a tea prep area as well as having space for storage.
There is the addition of a further storage area above the front shop to the rear of the property.
Location
The subject property is situated near the bottom of Minto Street (A701) approximately 2 kilometres south of Princes Street. The Southside/Newington area of Edinburgh connects with Cameron Toll to the south and the city centre to the north. The unit sits on the west side of the street close to the corner of West Mayfield. Minto Street is known for having a large quantity of guesthouses and is a popular destination amongst tourists given its proximity to town and ease of access to most attractions.
Public transport links are very good with regular bus routes stopping close to the property.
Accommodation
According to our recent measurement survey the subject comprises the following approximate net internal area:
Ground floor - 20 sq m (215 sq ft)
Basement - 16 sq m (172 sq ft)
Total - 36 sq m (388 sq ft)
Terms
RENT & LEASE TERMS - This property is to let for £13,000 per annum of full repairing and insuring conditions
RATEABLE VALUE - According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have a Rateable Value of £3,250 effective 1st April 2023. The uniform business rate for the current year is 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.
Rateable value range Percentage of relief (subject to eligibility)
Up to £12,000 100%
£12,001 to £15,000 Award will taper from a maximum of 100% to a mini-mum of 25%
£15,001 up to £20,000 Award will taper from a maximum of 25% to zero
UTILITIES - The property is served by mains electricity, and water.
ENERGY PERFORMANCE CERTIFICATE - The Energy Performance Certificate rating is D
A copy of the recommendation report is available on request.
ENTRY - Upon completion of a formal missive under Scots Law.
LEGAL COSTS - Each party shall bear their own legal costs with the eventual tenant liable for any LBTT.
And any Registration Dues.