Newington Road is one of Edinburgh’s principal arterial routes approximately 1 mile south of the city centre and links South Clerk Street to the Old Town. The area is a popular residential and shopping location resident to a large student population.
The property is situated on the east side of Newington Road in between the junctions with East Preston Street and East Newington Place.
Nearby commercial occupiers include Fortitude Coffee, Boots, The Refillery, Thistle Carpets and Flooring and Southpour.
The subjects comprise a self-contained retail unit arranged over ground floor forming part of a terrace of mixed commercial premises.
The front section of the property resides beneath a flat roof whilst the rear areas sit beneath a two storey, stone-built tenement under a pitched slate roof.
Internally, the unit was previously used as a dry cleaner and is set up as such. It provides a front shop sales area with customer counter and laundry area behind. The rear ‘lower ground’ section of the property contains: offices, staff room, toilets and several stores.
The property title also includes two areas of drying green/garden ground with steps leading up from the back door.
According to our recent measurement survey the premises contain the following approximate net internal area:
128.71 sq m (1,385 sq ft)
Our client is seeking offers over £225,000 exclusive of VAT for the heritable interest in the subjects.
Alternatively, consideration will be given to leasehold offers with a rent in excess of £15,000 per annum invited.
According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have a Rateable Value of £14,800. The uniform business rate for the current year is £0.494 pence in the pound.
Occupiers may be eligible for 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.
The property is served by mains electricity and water.
ENERGY PERFORMANCE CERTIFICATE
The Energy Performance Certificate rating is pending.
A copy of the recommendation report is available on request.
Each party shall bear their own legal costs in the preparation of the lease with the eventual tenant liable for any Registration Dues or LBTT thereon.
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.
Upon completion of a formal missive under Scots Law.
VIEWING AND FURTHER INFORMATION
By contacting the sole agent:
Iain W. Mercer BA, AssocRICS
Director of Commercial Agency (East)
0131 357 4455 / 07713 626 887
Bernadetta Majewska BSc (Hons)
Graduate Commercial Surveyor
0131 357 4455 / 07917 924 112
- Extensive, double frontage retail unit
- May suit other uses including residential, subject to planning
- Situated in a busy residential and student neighbourhood