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No 110, New Silvermills Car Park, NW Cumberland Street Lane, Edinburgh, EH3 6RF
Tenure: For Sale
Size: 157 sq ft (15 sq m)
Price: Offers Over £50,000
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The subjects comprise a single car parking space set within a modern and purpose-built, secure underground car park of solid concrete construction.

The car park benefits from an automatic roller shutter access point and an EV charging point.

North West Cumberland Street Lane is located in Edinburgh’s world renowned New Town, only a short distance north of George Street and Princes Street.

New Silvermills Car Park is situated beneath a large residential development.  The street is bordered by St Vincent Street to the west and Dundas Street to the east making it easily accessible for cars and pedestrians.

The affluent district of Stockbridge with its mix of independent shops and boutiques is only a short walk away.

Public transport is readily available in the immediate area.

Accommodation

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

14.57 sq m (156.86 sq ft)

The space is capable of accommodating a standard vehicle, estate, suv or similar.

Price

Our client is seeking offers over £50,000 to dispose of their single share.  No VAT is applicable.

Terms

The sale will comprise the transfer of a single share with no legal contract necessary.

Annual levy

We are advised VAT will not be applicable to the purchase price.

Rateable value

According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have a Rateable Value of £2,100 effective 1st April 2023.  The uniform business rate for the current year is £0.498 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.

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.

Iain W. Mercer

Director of Commercial Agency
Email
07713 626 887
Bernadetta Majewska

Commercial Surveyor - Agency and Valuation
Email
07511 499 420
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