The subjects comprise a retail premises arranged over the ground floor of a single storey property set in front of a four storey and basement tenement building.
The frontage to Newington Road comprises a timber framed and glazed display window and timber framed and glazed entrance door benefiting from a roller shutter.
Internally, the property is arranged to provide retail space to the front. The property tapers to the rear to a corridor providing access to a further larger rear room.
Access to the kitchen and WC compartment is also taken from the corridor and a rear door is provided to a small courtyard area to which the property has access rights.
Location
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 Hollywood Nail Spa, The Salvation Army, Pizza Hut, Picnics, The Edinburgh Frames Company and various others.
Accommodation
According to our recent measurement survey the premises contain the following approximate net internal area:
42.51 sq m (457 sq ft)
Terms
TERMS
Our client is seeking rental offers over £10,000 per annum exclusive of VAT.
Alternatively, consideration will be given to purchase offers with a price provided on application.
RATEABLE VALUE
According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have a Rateable Value of £5,700. The threshold for full rates relief under the Small Business Bonus Scheme has changed for the financial year 2024/25. For properties with a RV between £12,001 and £15,000 the award is now 25%. The uniform business rate for the current year is £0.498 pence in the pound.
UTILITIES
The property is served by mains electricity and water.
ENERGY PERFORMANCE CERTIFICATE
The Energy Performance Certificate rating is B.
A copy of the recommendation report is available on request.
LEGAL COSTS
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.
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 diligence 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 the works scheduled in the property and a formal missive under Scots Law.
VIEWING AND FURTHER INFORMATION
By contacting the sole agent: