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Retail Property (high street) to rent

Portobello High Street, Edinburgh, EH15

Let Agreed £875 pcm
670 sq. ft.

Property Description

Key features

  • Modern ground floor retail unit
  • Highly visible in prominent location
  • Move in condition
  • Qualifies for 100% rates exemption
  • Offers of 10,500 per annum

Full description

LOCATION
The subjects are located towards the eastern side of the main commercial/retail section of Portobello High Street which is a busy thoroughfare; the property is therefore well located to benefit from a high volume of pedestrian and vehicular traffic coming through on a daily basis.

Portobello itself is a popular suburb of Edinburgh located approximately 3 miles east of the city centre and lies on the shore of the Firth of Forth with a popular promenade and beach.

Portobello High Street is mixed in character, primarily with commercial occupiers on ground floor level and residential flats above.

Other commercial occupiers in the area include both national and local operators with a William Hill, Greggs, Sainsbury's Local all being located on the High Street and within the immediate vicinity there are a number of local operators including a dentist, picture framer and a florist.

DESCRIPTION:
The property comprises a ground floor retail premises as part of a single storey brick/block constructed unit under a flat roof.

The property has a double frontage and benefits from full height display windows with access given through a recessed timber and glazed pedestrian door. Internally the property is well laid
out and currently provides a large open plan sales area to the front, with the rear of the property consisting of a back shop, small tea preparation area and w/c.

ACCOMMODATION:
The property has been measured in accordance with the RICS Code of Measuring Practice, 6th edition and the Net Internal Area (NIA) has been calculated as follows; 62.19sqm (670sqft).

RATEABLE VALUE:
According to the Scottish Assessors Association website the property has a Rateable Value of 9,500 and therefore qualifies for 100% rates exemption in accordance with the Small Business
Bonus Scheme.

LEASE TERMS:
We have been instructed to assign the existing leasehold interest; with the salient terms as follows:

Lease Start: June 2014
Lease Expiry: June 2020
Rent: 10,500 per annum
Repair: FRI (Full repairing and insuring)

PROPOSAL:
Our client is looking to assign the leasehold interest however consideration will be given to sub-letting.


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