Restaurant/cafe to let in Market Place, Selkirk TD7

Location

The historic town of Selkirk is located just off the A7 in the Scottish Borders approximately 40 miles south of Edinburgh.

The town, with a resident population of around 5,000 people, has a wide range of local attractions, independent and access to outdoor pursuits.

The property itself is located close to the town square on Market Place at its junction with West Port.

Nearby occupiers include Jazrose, The Town Arms Inn, Hastings Legal and Barnardos.

Description

The property forms the ground floor of a two storey and attic category c-listed tenement contained beneath a pitched and slate roof.

Benefitting from a double windowed frontage the premises is generously proportioned with a large front shop area leading through to a rear kitchen. To the rear of the unit is stores, a food prep room small office and WC.

The shop previously traded selling cold drinks, paninis and sandwiches under a use of restricted hot food licence. The property has now been granted a change of use to class 3 which can permit a café use.

Accommodation

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

63.96 sq m (688 sq ft)

Rent

Our client is seeking rental offers of £250 per week (£13,000 per annum).

Terms

The property is made available on full repairing and insuring terms for a lease period to be agreed.

Rateable value

According to the Scottish Assessor’s website () the subjects have a Rateable Value of £5,500 effective 1st April 2023.

The threshold for full rates relief under the Small Business Bonus Scheme has changed for the financial year 2024/25. For properties with a rv between £12,001 and £15,000 the award is now 25%. 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. Gas is in the building but not connected. There is also a security alarm system.

Energy performance certificate

The Energy Performance Certificate rating is G.

A copy of the recommendation report is available on request.

Legal costs

Each party shall bear their own legal costs with the eventual tenant 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 diligence 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.