Commercial Property for sale

45 Ashley Terrace, Edinburgh, EH11 1RY

Offers Over £32,500

Property Description

Commercial information

  • Business for sale

Key features

  • Well presented sandwich takeaway/coffee shop (16 covers)
  • Popular business with excellent reputation
  • Compact, easily managed unit
  • Monthly sales income circa 5,000 - 5,500
  • Rent 7,800 per annum
  • Leasehold - Offers over 32,500

Full description

Tenure: Leasehold

LOCATION
Situated within a parade of retail units serving the local community, the subjects are located on the Northeast side of Ashley Terrace between the junctions with Slateford Road and Harrison Gardens.

Ashley Terrace is situated in the Slateford area of Edinburgh, a short distance from Polwarth and Merchiston, approximately two miles to the Southeast of the city centre.

DESCRIPTION
The subjects comprise retail premises which are arranged over the ground and basement floors of a four storey and basement traditional stone built mid terraced tenement property. The upper floors are in residential use.

Internally, the subjects have recently been fully upgraded and refurbished to form a quality sandwich bar/coffee shop with preparation area/kitchen to the rear.

There is a seating area to the front with a service counter and preparation area behind. A hatch behind the counter provides access to the basement storage area. Completing the accommodation is a toilet to the rear.

The service counter comprises a cold refrigeration display unit and juice fridge. Fitted with modern base kitchen units with worktop areas, the preparation area is equipped with a coffee machine, baked potato oven, panini grill and various fridges. To the rear of this is an area which is utilised for dishwashing and contains a stainless steel sink and washhand basin.

THE BUSINESS
Our client has operated the business for eight years, having established a loyal customer base during this time. Our client is now reluctantly seeking to retire due to ill health.

Income is generated from a mix of sit in and takeaway sales. A varied menu is available to include breakfast rolls, baked potatoes, salads, filled rolls, etc all of which are reasonably priced.

Many appetising fillings are available to include vegetarian options and our client prepares all the fillings, cakes and soup on the premises daily.

There is a known demand for outside catering, however, due to our clients circumstances this service has been reduced. Our client operates the business hands on with part time assistance
from his wife and opening hours are currently Monday - Friday, 8 am - 2.30 pm.

Financial documentation will be provided to interested parties only after viewing and confirmation of interest. Sales for the year ended 31 May 2015 were 75,913, a similar level to that generated in 2014. Our client has suffered from ill health and, as a result, the business was closed from October 2015 until March 2016. As a result of ongoing health issues and holidays, the business
has operated for circa 10 months out of the last year and sales are in the region of 52,000 for the year. There is undoubtedly scope to increase sales through full time opening and potentially additional trading hours and/or days.

TRADE INVENTORY
The asking price includes the trade inventory which, we are advised, is owned outright and is not subject to any lease purchase, hire contract or similar
finance arrangement.

RATES
Reference to the Assessor's website has shown that the subjects are entered in the current Valuation Roll at Rateable Value 5,900.

TENURE
Leasehold. The subjects are held on the basis of a full repairing and insuring lease, which is due to expire in 2029.

The passing rent is 7,800 per annum with a 3 yearly review provision. The next review is due in 2019.

As would be expected under the terms of a traditional lease, the incoming tenant will be required to demonstrate their ability to fulfil their obligations under the lease, in particular financial obligations, and references will be requested at an early stage, without exception.

PRICE
Offers around 32,500 are sought for our clients leasehold interest to include goodwill, fixtures and fittings, with stock available over and above at valuation.


Nearest stations

  • Slateford (0.7 mi)
  • Haymarket (0.9 mi)
  • Kingsknowe (1.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

DM Hall , Edinburgh

17 Corstorphine Road, Edinburgh, Midlothian, EH12 6DD

0131 291 0208 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Slateford (0.7 mi)
  • Haymarket (0.9 mi)
  • Kingsknowe (1.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

DM Hall , Edinburgh

17 Corstorphine Road, Edinburgh, Midlothian, EH12 6DD

0131 291 0208 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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