For Sale

The subject comprises a shop unit occupying a corner plot and forming the ground floor of a four-storey tenement, surmounted by a pitched and slated roof.

The unit was last used as a convenience store and as such the front shop benefits from two large window openings and a roller shutter main door.  There is an area of partitioned storage with a WC to the rear.

The adjacent property is a one bed studio flat which is available to purchase with vacant possession.  It has a Home Report value of £125,000 and is held on a separate title.

The Leith area of Edinburgh lies approximately 4 miles north-east of the city centre.

Spey Terrace can be reached directly from Leith Walk via Middlefield, or from Dryden Street off Pilrig Street.  The subject is located on the corner of Spey Terrace and Dryden Street.

The surrounding area is residential with street parking comprising of permit and metered spaces.

There is an abundance of amenities within 5 minutes’ walk with occupiers including Sainsbury’s Local, Pret A Manger, Starbucks and Starlight Asian Supermarket.

Accommodation

According to our recent measurement survey the premises contain the following approximate net internal area:

35.58 sq m (383 sq ft)

Studio Flat

There is an adjacent one bed studio flat at 12 (Pf1) Dryden Street available to purchase with a Home Report value of £125,000.  The flat is sold with vacant possession.

Price

Our client is seeking offers over £90,000 for the Heritable title.

Terms

Heritable (Scottish equivalent to English freehold).

It is the  landlord’s preference is to sell both the commercial and residential properties simultaneously.

Rateable Value

According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have a Rateable Value of £4,650 effective 1^st April 2023.  Occupiers may be eligible for 100% rates relief under the Small Business Bonus Scheme. The uniform business rate for the current year is £0.498 pence in the pound.

12 (Pf1) Dryden Street is Council Tax band: A

Utilities

The property is served by mains electricity and water.

Legal Costs

Each party shall bear their own legal costs with the eventual purchaser liable for any Registration Dues or LBTT thereon.

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.