88 South Clerk Street

Newington, Edinburgh, EH8

Description

BUSINESS SALE/LEASE DISPOSAL: 88 SOUTH CLERK STREET, EDINBURGH EH8 9PP
Class 3 *Restricted* with Alcohol License

* LEASEHOLD FOR SALE *

LOCATION
The subjects are on South Clerk Street which is situated in the south of Edinburgh city centre, a popular continuation of Clerk Street which leads directly to the Bridges, Royal Mile and the east end of Princes Street.
Newington is a particularly scenic area of Edinburgh with local landmarks such as Salisbury Crags, Arthur?s Seat and the Meadows all near each other. There is a strong student population in the immediate vicinity and a wide range of shops, bars and cafes nearby.
There are regular bus links to the city centre but several of Edinburgh?s tourist and festival attractions, such as the Royal Mile and Edinburgh Castle are within walking distance. Other local facilities include: The Queen?s Hall, Festival Theatre, National Museum of Scotland and the Commonwealth Pool.

DESCRIPTION
The subjects comprise a class 3 restricted licensed premises. It forms part of a stone-built tenement comprising commercial and residential occupancy.
The unit is a glass fronted unit with good signage space above. Internally the layout suits the current Coffeeshop/Deli use and some retail, the front shop doubles up as a serving area with comfortable seating area for customers including display fridges for products and sales.

The back shop has two large rooms, one is extra seating or a breakout/private space and the other is used as a stock/storage area. The W.C?s are located off the corridor that leads from front shop to back shop.

The property is neat and tidy and in good decorative order both internally and externally.

ACCOMMODATION
According to our recent measurement survey the premises contain the following approximate net internal area:
63m (678 sq ft)

THE LEASE
There is currently six and a half years remaining on a full repairing and insuring lease.
The rent is currently £14,000 per annum. There is scope to extend the lease for potential buyers as landlord and tenant have a good relationship.

ALCOHOL LICENSE
The property is licensed for on and off sales between 10am ? 11pm seven days per week

PREMIUM
A premium guide price of £32,500 is being sought to acquire the leasehold, fixtures and fittings.

RATEABLE VALUE
According to the Scottish Assessor?s website (www.saa.gov.uk) the subjects have a Rateable Value of £11,200. The uniform business rate for the current year is £0.49 pence in the pound.

UTILTIES
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

VIEWING AND FURTHER INFORMATION
By appointment through the sole letting agent, Ime DJK Group Ltd.

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.
ENTRY
Upon completion of a formal missive under Scots Law

EPC rating: Unknown. Council tax band: X,