Commercial property to let in Spring Gardens, Abbeyhill, Edinburgh EH8

116 spring gardens, edinburgh EH8 8EY
Lease Disposal
23 sq M (248 sq ft)

• Retail use
• No rates
• Low rent
• Established grocery store

Location

The property is located near the junction of Waverly Park on the south side of Spring Gardens between the junctions of Waverly Park and Milton Street. Spring Gardens continues east on to Royal Park Terrace and follows on to Holyrood Park and Arthur’s Seat, whilst Abbeyhill, The Royal Mile and the Scottish Parliament are just off the west side of the street.

The area is a short walk from popular tourist destinations such as Holyrood Palace and the Royal Mile and it is only a 15-minute walk to Edinburgh's principle retail shops on George Street and Princes Street.

The immediate area offers a range of excellent amenities including Meadowbank Shopping Park, where you have Sainsbury’s, B&M, tk Maxx and other national companies. There are a number of bars and coffee shops on nearby London Road and Easter Road.

The area benefits from excellent transport links with regular bus links serving the city centre. In addition, Waverley train station is only a short distance from this location. The nearest tram stop is at the top of Leith Walk.

Description

The subjects, comprise a single windowed unit configured over ground floor, forming part of a stone-built tenement.

Internally, the subjects comprise of a bright rectangular front shop retail area. A narrow corridor to the righthand side leads through to the back-shop area which is a good space with a window to the back of the unit. The WC is located to the rear right hand side of the property.

Currently the shop is fitted out as a grocery store with a stock room at the rear.

The subjects would suit a range of occupiers.

Accommodation

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

Ground floor: 23 sq M (248 sq ft)

Lease terms and premium

This unit is currently let at £6,000 per annum on full repairing and insuring terms and conditions. The remaining term can be extended, no problem.

A premium of £10,000 is sought as well as the value of the stock.

Rateable value

According to the Scottish Assessor’s website () the subjects have a Rateable Value of £2,450. 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.

Utilties

The premises are 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 in the with the eventual tenant liable for any Registration Dues or LBTT thereon.

Entry

Upon completion of a formal missive under Scots Law.

Viewing and further information

By appointment through the sole letting agent, Ime djk Group Ltd