Address: 7 High Street
Size: 1,320 ft² ( 122.61 m² )
Price: £50,000 per annum exclusive

Rare Opportunity To Aquire Unit On Royal Mile
Location

The property is situated in High Street within Edinburgh’s historic Old Town, with High Street forming part of the Royal Mile the city’s premier tourist district leading from Edinburgh Castle and Holyrood Palace ensuring strong levels of footfall throughout the year.  Nearby retailers are a good mix of multiple and local traders to include House Of Cashmere, Elgin Cashmere, The Museum of Childhood, Neon Sheep and a number of other retailers who will be attractive to tourists.

Accommodation

The property offers accommodation over ground and first floors.  Following on from our measured inspection we would confirm the property extends to the following areas and dimensions:

Gross Frontage:                    20’ 9’’      (6.32 m)
Net Frontage:                       17’ 1’’      (5.21 m)
Ground Floor:                      620 ft²     (57.58 m²)
Basement:                            700 ft²    (65.03 m²)

Lease Terms

The property is offered to the market on the basis of a new full repairing and insuring lease for a period to be agreed, incorporating regular upward only rent reviews.

Rent

Rental offers in excess of £50,000 per annum exclusive are sought.

Energy Performance Certificate

A copy of the EPC is available upon request.

Rates

The property is entered in the Valuation Roll as follows:

Description:                             Shop
Rateable Value (‘21/’22):    £35,900

Under current Government Guidelines no rates will be payable until the 1st April 2022.

Legal Costs

Each party to be responsible for their own legal costs, with the tenant being responsible for registration dues and LBTT incurred thereon.

VAT

All terms are quoted net of VAT where applicable.

Entry

Early entry can be provided.

Money Laundering Regulations

To comply with Money Laundering Regulations, we are legally required to undertake due diligence on prospective purchasers/tenants which will at a minimum include proof of identity/address and funding.  Applicable documentation will therefore be required on agreement of Heads of Terms.

Viewing/Further Information

Strictly by appointment through this office.