Retail premises to let in Leith Walk, Leith, Edinburgh EH6

Location

Leith Walk is a principal commercial thoroughfare in Edinburgh city centre situated approximately 1.5 miles north of Princes Street.

The subject property is situated at the midway point of Leith Walk located on its east side close to the corners of Iona Street and Dalmeny Street.

Leith Walk has recently fully reopened to traffic following works to install an extension to Edinburgh Trams, resulting in increased footfall and passing traffic.

The nearest tram stop is Balfour Street whilst metered parking is available on Leith Walk and surrounding streets.

Other commercial occupiers in the area include: First Mortgage, Epoca Vintage Clothing Shop and Braid Vets.

Description

The subjects form part of a four storey, traditional stone-built tenement with the upper floors in residential use.

Arranged over ground and basement the subjects comprise a shop premises with a double window glazed frontage and prominent signage space above.

The front shop is currently laid out with a customer waiting area and staff counter. To the rear is a staff/office area and storage.

The basement is accessed by an accessible staircase and providing further usable storage space and a WC compartment.

Accommodation

According to our recent measurement survey the premises contain the following approximate net internal area:

73.02 sq m (786 sq ft)

Rent

Our client is seeking rent offers over £15,000 per annum to grant a new lease.

Terms

The premises are available for immediate lease on full repairing and insuring (Fri) terms for a period to be agreed.

Town planning

We understand the premises is currently consented for Class 1A use but has historic planning approval for hot food takeaway which has now lapsed. Interested parties should make enquiries with City of Edinburgh Council planning department.

Rateable value

According to the Scottish Assessor’s website () the subjects are listed as a Shop and Restaurant at 321-331 Leith Walk with a Rateable Value of £40,400 effective 1st April 2023. The premises are connected to the adjoining ‘Antonietta’ restaurant at 325-331 Leith Walk and will require to be formally reassessed . The uniform business rate for the current year is £0.498 pence in the pound.

Utilities

The property is served by mains electricity and water.

Energy performance certificate

The Energy Performance Certificate rating is D.

A copy of the recommendation report is available on request.

Legal costs

Each party shall bear their own legal costs with the eventual purchaser liable for any Registration Dues or LBTT thereon.

Anti-money laundering

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 came into force on 26th June 2017. This now requires us to conduct due dilligence not only on our client but also on any purchasers or occupiers. Once an offer has been accepted, the prospective purchaser(s)/occupier(s) will need to provide, as a minimum, proof of identity and residence and proof of funds for the purchase, before any transaction can proceed.

Entry

Upon completion of a formal missive under Scots Law.

Viewing and further information

By contacting the sole letting agent:

Iain W. Mercer ba, AssocRICS
Director of Commercial Agency (East /

Bernadetta Majewska BSc (Hons)
Graduate Commercial Surveyor /