TO LET - PRIME OPPORTUNITY
(Class 3 Restaurant Consent Applied For)
Edinburgh is one of the strongest retailing centres in the UK with a population of over 530,000 people.
It is the second most visited city in the UK with over 3.85 million tourists per year.
Princes Street is Edinburgh's main retailing thoroughfare with footfall of 13 million shoppers per year (pre pandemic).
The property occupies a 100% prime location within Princes Street.
Other occupiers located nearby include Primark, Burger King, Superdrug and Boots.
The city also benefits from an affluent local population and large student numbers.
The property extends to the following areas and dimensions:
Gross Frontage: 28 ft 2 ins 8.58 m
Net Frontage: 24ft 10 ins 7.57 m
Return Gross Frontage: 7 ft 7 ins 2.31 m
Return Net Frontage: 5 ft 11 ins 1.80 m
Ground Floor: 3,020 sq ft 280.56 sq m
Basement: 2,594 sq ft 240.98 sq m
First and second floor accommodation can be made available by separate negotiation.
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 upward only rent reviews.
The property is entered in the Valuation Roll as follows:
Rateable Value ('21/'22): c. £324,500
Rates Payable: £167,442
The property has been assessed as Band D. A copy of the Certificate is available upon request.
The property has been elected for VAT therefore VAT will be chargeable on the rent.
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.
Strictly by appointment through the joint agents.