Heritable Retail/Leisure Investment in Edinburgh City Centre
Well located restaurant on the arterial route through Edinburgh City Centre and on tram line between City Centre and Airport
Located diagonally opposite new Diageo Visitor Centre - Johnnie Walker Experience, a recently opened £185m tourist attraction that will significantly increase footfall and tourism to this part of the City
Restaurant arranged on the ground and basement floors benefitting from a significant recent tenant fit out to include external works/new frontage
New 15 year lease from March 2021 (No breaks)
Neighbouring occupiers include Taco Bell, Sainsbury's Local, Boots and Bank of Scotland
Heritable Retail/Leisure Investment in Edinburgh City Centre
Well located restaurant on the arterial route through Edinburgh City Centre and on tram line between City Centre and Airport
Located diagonally opposite new Diageo Visitor Centre - Johnnie Walker Experience, a recently opened £185m tourist attraction that will significantly increase footfall and tourism to this part of the City
Restaurant arranged on the ground and basement floors benefitting from a significant recent tenant fit out to include external works/new frontage
New 15 year lease from March 2021 (No breaks)
Neighbouring occupiers include Taco Bell, Sainsbury's Local, Boots and Bank of Scotland
Lot 27
Auction 17th February 2022
Rent £50,000 per Annum Exclusive
Status Sold Prior
Price
Sector Leisure
Auction Venue Live Streamed Auction
Property Information
Location
Roads
A7, A720, M8, M9
Rail
Edinburgh Haymarket Station
Air
Edinburgh International Airport
Situation
Shandwick Place forms a continuation of Princes Street, at Edinburgh’s West End and is one of the main road routes to and from the City Centre to the west of the City. Shandwick Place is a popular retail and leisure pitch with excellent transport links by bus and tram.
The City Centre leisure and retail offer has improved recently with the £1 billion St James Quarter which opened in 2021 together with the recently opened £185m Johnnie Walker Experience at the junction of Princes Street and Lothian Road.
The tram route between the City Centre and Edinburgh Airport is now well established and passes the property. Shandwick Place has become a successful location for convenience retail, take away, casual dining and general retail. Occupiers on Shandwick Place include Starbucks, ASK , Sainsbury’s Local, Taco Bell, Savers, Ryman, Specsavers, Holland and Barrett and Optical Express.
Tenure
Heritable.
Location
Roads
A7, A720, M8, M9
Rail
Edinburgh Haymarket Station
Air
Edinburgh International Airport
Situation
Shandwick Place forms a continuation of Princes Street, at Edinburgh’s West End and is one of the main road routes to and from the City Centre to the west of the City. Shandwick Place is a popular retail and leisure pitch with excellent transport links by bus and tram.
The City Centre leisure and retail offer has improved recently with the £1 billion St James Quarter which opened in 2021 together with the recently opened £185m Johnnie Walker Experience at the junction of Princes Street and Lothian Road.
The tram route between the City Centre and Edinburgh Airport is now well established and passes the property. Shandwick Place has become a successful location for convenience retail, take away, casual dining and general retail. Occupiers on Shandwick Place include Starbucks, ASK , Sainsbury’s Local, Taco Bell, Savers, Ryman, Specsavers, Holland and Barrett and Optical Express.
Tenure
Heritable.
Description
The property is arranged on the ground and basement floors only, forming part of a five storey, mid terrace, traditional stone building.
Internally and externally, the restaurant has recently undergone an extensive refurbishment by the tenant, to include a new shop frontage. The ground floor provides open plan dining space together with bar, staff facilities and kitchen to the rear. WC’s and storage facilities are located in the basement.
VAT
VAT is applicable to this lot.
Viewings
Please contact Mhairi Archibald (0771 8899341)
Completion Period
6 weeks
EPC
Please see the Legal Pack at www.acuitus.co.uk
Description
The property is arranged on the ground and basement floors only, forming part of a five storey, mid terrace, traditional stone building.
Internally and externally, the restaurant has recently undergone an extensive refurbishment by the tenant, to include a new shop frontage. The ground floor provides open plan dining space together with bar, staff facilities and kitchen to the rear. WC’s and storage facilities are located in the basement.
VAT
VAT is applicable to this lot.
Viewings
Please contact Mhairi Archibald (0771 8899341)
Completion Period
6 weeks
EPC
Please see the Legal Pack at www.acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground Basement
Restaurant Ancillary
180.41 sq m (1.942 sq ft) 163.97 sq m (1,765 sq ft)
MEERAB LIMITED (t/a Rubab) (1)
15 years from 22/03/2021 to 21/03/2036 on a Full Repairing and Insuring Lease
£50,000 (2)
22/03/2026 and five yearly thereafter
TOTAL
344.38 sq m (3,707 sq ft)
£50,000 (2)
(1) The tenant also operates from Rustom Restaurant close to Haymarket Station (2) The tenant benefits from half rent until 22nd July 2022. The Seller will make an allowance from completion of the sale until the expiry of the concessionary rental period - please see Articles of Roup/ Conditions of Sale
If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
