* Lower ground Class 1A premises in category b - Listed Georgian Terrace building
* Located in Edinburgh’s highly desirable Stockbridge area
* Excellent investor opportunity
* Qualifies for 100% rates relief
* Approximately 35. 18 sq m (379 sq ft)
**Location
**
St Stephen Street is located in Edinburgh highly desirable Stockbridge area
which lies approximately 1 mile north - west of Princes Street.
The area is well known for its boutiques, cafes, delicatessens, restaurants
and bars with a mixture of independent, local and national retailers.
The property itself is located on the south side of St Stephen Street amongst
a terrace of similar type properties close to its junction with North West
Circus Place.
**Description
**
The subjects comprise a lower ground retail unit with attractive period
Georgian bow frontage window and facade forming part of a category b - listed,
three storey terraced building. Internally, the premises is split into front,
mid and rear shop. Features within the space include an original fireplace to
the front of the room, a polished concrete floor and decorative lighting. It
benefits from a small external courtyard for tables and chairs and a cellar
that can be converted for additional storage.
To the rear of the unit is a wash hand basin and toilet compartment.
The property would also be suitable for conversion to residential subject to
obtaining a relevant planning consent.
**Accommodation
**
According to our recent measurement survey the premises contain the following
approximate net internal area:
35. 18 sq m (379 sq ft)
**Price/rent
**
Our client is seeking offers over £195, 000 for the heritable title.
Alternatively, consideration will be given to leasehold interests with rental
offers over £12, 000 per annum invited.
**Terms
**
Heritable (Scottish equivalent of freehold)
**Rateable value
**
According to the Scottish Assessor's website () the subjects have a Rateable
Value of £6, 200 effective 1st April 2023. The uniform business rate for the
current year is £0. 498 pence in the pound.
Occupiers may be eligible for 100% rates relief through the Small Business
Bonus Scheme if the combined rateable value of all their business premises in
Scotland is £35, 000 or less.
**Utilities
**
The property is served by mains electricity and water.
**Energy performance certificate
**
The Energy Performance Certificate rating is pending.
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 LBTT and Registration Dues.
**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 agent:
Iain W. Mercer ba, AssocRICS
Director of Commercial Agency (East /
Bernadetta Majewska BSc (Hons)
Graduate Commercial Surveyor /

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