Property Description
The subject comprises a single window commercial premises with roller shutter forming the ground floor and basement of a four-storey tenement block.
Internally, the subjects provide a front shop with a hatch at the rear to access a basement suitable for storage. The rear shop is irregularly shaped but consists of a staff area, which could be utilised as additional storage space, with WC cubicle and kitchen.
Adjoining occupiers include: Subway, William Hill, Majestic Wine and Folly Antiques.
Location
Leith Walk is a principal commercial thoroughfare in Edinburgh city centre situated approximately 1.5 miles north of Princes Street.
The subject property is situated towards Foot of the Walk on the east side of Leith Walk close to the corner of Lorne Street.
The street has recently fully reopened following works to install an extension to Edinburgh Trams, resulting in increased footfall and passing traffic.
The nearest stop is Balfour Street which is around 500 metres from the premises.
Further Information
Accommodation
According to our recent measurement survey the premises contain the following approximate net internal area:
73.11 sq m (787 sq ft)
Rent
Our client is seeking rental offers over £9,000 per annum.
Lease terms
The premises are available for immediate let on full repairing and insuring (FRI) terms for a period to be negotiated.
Rateable value
According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have a Rateable Value of £7,300 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 tenant 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.
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