The subjects comprise a ground and lower ground floor, former ex servicemans social club. The property is accessed via upper ground floor stairs from the pavement into ground floor level and is connected via two internal staircases on either side of the property to the lower ground floor level. The lower ground floor consists of toilets, kitchen facilities and a large function space within a single storey extension to the rear of the townhouse building under a single pitched roof. The extension and rear boundary of the property backs onto the former Leith tram depot (165 Leith Walk) which has been demolished and is currently being used as a store for the tram extension works on Leith Walk. We believe the property would be suitable for residential development subject to council consents.
Location
The property is situated within the Leith district of Edinburgh, 1 mile north of the city centre Smiths Place is situated adjacent to Leith Walk which is the main pedestrian and vehicle route linking Edinburghs city centre and Leith. The property is specifically located on the north side of Smiths Place which is a dead end street made up of predominately residential townhouse flats. The property will benefit from being in close proximity to Edinburghs new tram extension to Newhaven which will run 50 m from the property. Nearby commercial operators include Raimes Clark Co, The Smiths Place Hotel and Majestic Wines.
Accommodation
Ground Floor 159 sq m (1711 sq ft )
Lower Ground Floor 286 sq m (3078 sq1 ft )
TOTAL 445 sq m (4789 sq ft )
Terms
EPC Released on application.
PLANNING Although the property has no records in the planning portal, we are of the assumption that the property benefits from class 3 consent and an alcohol license. The property would also be suitable for office use and residential development subject to planning consents.
PRICE Our client is seeking offers over £XXX for the freehold interest of the property with vacant possession.
RATEABLE VALUE The subjects are entered in the current Valuation Roll at a rateable value of £XXX which allows for 100% rates relief subject to owner or occupier’s circumstances. Please note, a new owner or occupier of a commercial property has the right to appeal this rateable value within 6 months of the beginning of the tenancy.
LEGAL COSTS Each party to bear their own legal costs in the documentation of this transaction; however the ingoing tenant will be responsible for any LBTT, Registration Dues and any VAT incurred thereon.
Specification
- FORMER EX-SERVICEMAN’S CLUB WITH CLASS 3 CONSENT
- PREMISES EXTENDS TO 445 SQM / 4789 SQFT
- POTENTIAL FOR RESIDENTIAL DEVELOPMENT SUBJECT TO CONSENTS
- SITUATED IN CLOSE PROXIMITY TO LEITH WALK TRAM SYSTEM
- OFFERS OVER £XXX