56 St Stephen Street, Edinburgh
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Overview
| ID: | #7170 |
|---|---|
| Type: | Retail |
| Contract: | To Let |
| Location: | Edinburgh |
| Area: | 501 SQ FT |
| Download Property Schedule (pdf) | |
56 ST STEPHEN STREET, EDINBURGH, EH3 5AL
- Attractive Class 1A retail unit in bustling Stockbridge
- Fully refurbished and in move in condition
- Rarely available and highly sought after location
- May benefit from 100% Small Business Rates Relief
- Net Internal Area 46.50 sqm (501 sqft)
- Rental offers of £25,000 per annum
LOCATION
Edinburgh, a UNESCO world heritage city, and Scotland’s capital city is located approximately 400 miles north of London and 45 miles east of Glasgow. It is a key political, legal and judicial centre and is the second largest financial centre in the UK. The city has a population of approximately 525,000 and a regional catchment of around 1.6 million people. Edinburgh has a diverse economy with more FTSE 100 companies located there than any other city in the UK, outside of London.
The property is located within the highly desirable Stockbridge area of Edinburgh, renowned for its independent retailers, artisan cafes, creative occupiers and numerous bars and restaurants. Situated in the heart of Stockbridge, St Stephen Street is a short walk from Edinburgh city centre and Raeburn Place.
There is a vibrant mix of residential and commercial occupiers, making it one of the most sought-after parades in the city. Nearby occupiers include Starbucks, The Bailie, Purslane, Cullertons and The Avery.
DESCRIPTION
The subjects comprise a Class 1A retail unit arranged over the upper ground floor of a traditional four storey and basement mid terraced tenement. The property benefits from a unique double display frontage. It has recently undergone a fully comprehensive refurbishment including re-wiring, new electric radiators, new flooring, new kitchen and freshly decorated throughout.
The property is arranged to provide a large open plan retail space linking into a smaller rear room with kitchen facilities. There is a single WC.
ACCOMMODATION
The subjects have been measured in accordance with the RICS Code of Measuring Practice (6th Edition) and we estimate the Net Internal Area to be as follows:
Upper Ground Floor: 46.50 SQ M (501 SQFT)
LEASE TERMS
The property is available on full repairing and insuring terms for a minimum of 5 years.
RENT
Offers of £25,000 per annum. No VAT is payable on the rent.
RATEABLE VALUE
We are advised by the Rates Authority that 56 St Stephen Street has a current rateable value of £11,900. Subject to the occupier satisfying the relevant criteria, the property may benefit from 100% small business rates relief, potentially resulting in no business rates being payable.
EPC
The property has an EPC of B.
DATE OF ENTRY
By arrangement.
ANTI-MONEY LAUNDERING
To comply with the current anti-money laundering regulations, the agents acting on both sides of any qualifying transaction are required to undertake appropriate due diligence in advance of the transaction, including identifying and verifying all relevant parties and establishing the source(s) and legitimacy of funding.
Both parties may be required to disclose all relevant information prior to the conclusion of missives to enable the agents to meet their respective obligations under the Regulations.
LEGAL COSTS
Each party shall be responsible for their own costs; however, the ingoing tenant shall be responsible for any registration dues, Land and Buildings Transaction Tax (LBTT) and any VAT payable thereon.
VIEWING
Viewings strictly by appointment with the sole letting agent.
John Morton
0131 226 6287
Angus Thomson
0131 226 6287
