Property to rent
Property description & features
11 JEFFREY STREET, EDINBURGH EH1 1DR
LEASE DISPOSAL
Very busy location near the corner adjoining the Royal Mile
Surrounded by prosperous businesses
Close to Waverley Train Station
Benefitting from high levels of footfall
Directly opposite the New Edinburgh Gin distillery site
LOCATION
The subjects are ideally located in the popular Jeffrey Street in between the Waverley Train Station and The Royal Mile, which is Edinburgh's most famous street and tourist destination.
This area is known for its historical past with Edinburgh Castle at the top and Holyrood Palace at the foot along with the Kings Park.
Jeffrey Street provides excellent transport links, with regular bus services connecting the area. The Tram is at Princes Street and Waverley train Station is at the bottom of Jeffrey Street where it joins to Market Street.
The new Edinburgh Gin building is going to be directly opposite the unit and the Edinburgh Council headquarters and UK Queen Elizabeth House offices with an accumulation of 10,000 employees are just a short walk away.
DESCRIPTION
The property comprises of a ground floor and basement retail unit situated within a traditional tenement building. With a generous frontage with two display windows flanking a recessed door, the property offers excellent visibility and the opportunity for effective product showcasing with adequate sign space and elegant exterior décor.
Internally, the unit has an open-plan welcoming front shop area with a small reception counter to the rear and some window seating in the right-hand side window. To the rear right of the front shop there is a small room with a sink. The back shop is entered from a doorway on the left that could possibly be opened up to provide a larger open plan area, recently used as a private treatment room.
The basement is accessed from a timber staircase, there are two rooms towards the front and another treatment room and a WC to the rear both with windows, there is an additional large storage cupboard/tanning room also.
ACCOMMODATION
Based on our recent measurement survey, the property offers the following approximate net internal area:
Ground Floor: 50 sq. m (538 sq. ft)
Basement: 42 sq. m (452 sq. ft)
Total: 92 sq. m (990 sq.ft)
RENT & LEASE DETAILS
The sitting rent is £14,000 per annum on Full Repairing and Insuring (FRI) terms a ten year lease term is available.
PREMIUM
A premium of offers over £70,000 is sought for the leasehold.
VAT
No VAT.
SERVICES
The property is connected to mains electricity, and water
ENERGY PERFORMANCE RATING
The Energy Performance Certificate (EPC) rating is currently pending
RATEABLE VALUE
According to the Scottish Assessor's website () the subjects have a Rateable Value of £12,700. 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.
LEGAL COSTS
Each party will be responsible for their own legal costs incurred in the preparation, negotiation, and completion of the lease documentation, including any applicable LBTT or VAT. Assignor and Assignee will be responsible to cover the landlords costs 50/50.
ENTRY
Access to the property will be granted upon completion of a formal missive under Scots Law.
VIEWING AND FURTHER INFORMATION
To arrange a viewing or for further information, please contact the sole letting agent, Ime DJK Group Ltd.
Please note that all information provided is subject to contract and availability.
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*DISCLAIMER
Property reference P769. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by ime DJK Group - Commercial.
OnTheMarket may have applied supplementary data to this property listing, including:
Broadband availability and predicted speed: obtained from Ofcom on January 20, 2022
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2
Mobile phone signal availability and predicted strength: obtained from Ofcom on January 20, 2022
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
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