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Property Description
Location
Edinburgh with a resident population of approximately 490,000 is both the Capital City and Scotland’s administrative and judicial centre.
Leith Walk is situated on the main arterial route to Leith, and has the highest population density in Edinburgh with a peak of nearly 26,000 people residents within an 800 meter radius. This is a higher population density than anywhere else in Scotland.
The subjects are located on the west side of the street in a parade of retail units close to the junction at Balfour Street and well situated with a large number of public transport links.
Description
The premises comprise the ground floor and basement of a 4-storey tenement building. It has been trading as a Turkish Kebab shop from 1982 and was Edinburgh’s 2nd kebab shop.
Internally the premises has a distinct front and back and features a front service area with a kitchen preparation area to the rear. A private area is located on the ground floor which can be utilised as administrative area or store. In the basement is further preparation and storage area with a WC at the basement level.
The property has been recently refitted and includes a number included in the lease including Gam B80 lava rock chargrill and countertop display fridge with the property taking very little to be ready to open for trade.
For a full list of items included please contact the agent.
Accommodation
We understand the net internal area to be:
Sales area – 21 sq meters
Kitchen/back shop – 18 sq meters
WC – 2.38 sq meters
Basement store – 31 sq meters
Lease Terms
Our client is seeking £20,800 exclusive of any VAT per annum for a period of 10 years.
Our client is seeking a lease grassum (premium) on a 10 year lease of £50,000.
Rateable Value
According to the Scottish Assessor’s website (www.saa.gov.uk ) the subjects have a Rateable Value of £8,300 effective 1st April 2017. The uniform business rate for the current year 2017/2018 is 46.6 pence in the pound, for 2018/2019 the rate has been set at 48 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 premises in Scotland is £35,000 or less.
Energy Performance Certificate
The Energy Performance Certificate is pending.
Legal Costs
The occupier will be responsible for both their own and the landlords legal cost costs incurred in the preparation, negotiation and settlement of the documentation pertaining to the lease.
A service charge for property management is payable by the tenant to the sum of 4.5% + any VAT payable of the monthly rent and any premium agreed.
Please note, by submitting an enquiry regarding this property you agree that we may send your details to the landlord of this property so they may contact you in order to answer any questions, or arrange a convenient viewing time. STRICTLY NO AGENT OR SUB-LETTING CALLS.