For Sale

Sold
Retail
22 St Stephen Street, Edinburgh, EH3 5AL
Tenure: For Sale
Size: 379 sq ft (35 sq m)
Price: Offers Over £195,000

Key Features

  • Lower ground Class 1A premises in a category B-listed terrace
  • Located in Edinburgh’s highly desirable Stockbridge area
  • Excellent investor opportunity
  • Qualifies for 100% rates relief
  • Approximately 35.18 sq m (379 sq ft)

The subjects comprise a lower ground retail unit with attractive period Georgian bow frontage window and facade forming part of a category B-listed, three storey terraced building. Internally, the premises is split into front, mid and rear shop. Features within the space include an original fireplace to the front of the room, a polished concrete floor and decorative lighting. It benefits from a small external courtyard for tables and chairs and a cellar that can be converted for additional storage.

To the rear of the unit is a wash hand basin and toilet compartment.

The property would also be suitable for conversion to a delightful 1 x bedroom pied a terrace apartment, subject to planning permission being granted.

St Stephen Street is located in Edinburgh’s highly desirable Stockbridge area which lies approximately 1 mile north-west of Princes Street.

The area is well known for its boutiques, cafes, delicatessens, restaurants and bars with a mixture of independent, local and national retailers.

The property itself is located on the south side of St Stephen Street amongst a terrace of similar type properties close to its junction with North West Circus Place.

Accommodation

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

35.18 sq m (379 sq ft)

Price/rent

Our client is seeking offers over £195,000 for the heritable title.

Alternatively, consideration will be given to leasehold interests with rental offers over £12,000 per annum invited.

terms

Heritable (Scottish equivalent of freehold)

Rateable value

According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have a Rateable Value of £6,200 effective 1st April 2023. The uniform business rate for the current year is £0.498 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.

Utilities

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.

Legal costs

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

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.

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

Iain.mercer@alliedsurveyorsscotland.com

 

Bernadetta Majewska BSc (Hons)

Graduate Commercial Surveyor

0131 357 4455 / 07917 924 112

Bernadetta.majewska@alliedsurveyorsscotland.com

 

 

Iain W. Mercer

Director of Commercial Agency
Bernadetta Majewska

Commercial Surveyor - Agency and Valuation

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