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Restaurant to rent

Gilmore Place, Edinburgh, EH3

Let Agreed £2,083 pcm
1,356 sq. ft.

Property Description

Key features

  • Class 3 hot food retail unit on busy thoroughfare
  • Densely populated residential catchment
  • NIA - 126 sqm (1,356sqft)
  • Offers of 25,000 pax

Full description

LOCATION:
The subjects lie within the highly sought after area of Merchiston/Polwarth approximately 2.5 miles south of the city centre.

The property lies on Gilmore Place, a busy thoroughfare that links the Polwarth area of Edinburgh with Tollcross and subsequently the town centre. The unit is surrounded by other local occupiers including a Chinese takeaway, a local newsagent, letting agency and a glazing company. As well
as this commercial element, there is also a high density of residential units situated on Gilmore Place and surrounding streets, mainly in the form of traditional stone tenements and houses.

The area has also benefitted from significant inward investment with the newly created Boroughmuir High School due to open in 2017 and a new residential development on the south side of the canal. To the north of this lies a large commercial hub with a cinema complex and various national occupiers including Cineworld, Virgin Active and Nando's. There is also a new Hampton by Hilton being built with approximately 220 rooms which could bring more business to the local area.

DESCRIPTION:
The subjects comprise two inter-connected retail units which benefit from Class 3 hot food consent contained within a traditional stone constructed mid-terraced tenement presumably under a pitched and slated roof. The subjects benefit from two access points directly off Gilmore Place with the westmost unit primarily being the kitchen area that services the restaurant but also is configured to be used as an ancillary takeaway service. The property benefits from
approximately 40 covers with the seating arranged over split levels with bar and WC facilities to the rear. There is also a generous sized basement which can be accessed via a floor
hatch within the main restaurant, offering additional storage space.

ACCOMMODATION:
The premises have been measured in accordance with the RCIS code of measuring practice 6th edition. The floor areas are approximately as follows:

NIA - 126 sqm (1,356sqft) or thereby

RATING ASSESSMENT:
According to the Scottish Assessors Association website the property has a Rateable Value of 15,700.

The property qualifies for 25% rates exemption under the Small Business Bonus Scheme.

LEASE TERMS:
Offers of 25,000 per annum are invited with the property being let on a full repairing and insuring lease for a negotiable period. Our client is also seeking a premium of 25,000 for the benefit of fixtures and fittings inclusive of the fully fitted kitchen.


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