The city of Edinburgh has a population of approximately 430,000 persons and is the capital city of Scotland. Edinburgh boasts world class historical attractions and cultural events, including the Edinburgh Festival, which runs through the entire month of August each year, and the Edinburgh Hogmanay Party. The city attracts a high number of national and international visitors all year round with approx. 3.5 million visitors in 2015. The city has the highest visitor numbers and is regarded as the UK's most popular city outwith London. It is therefore also one of the UK's prime licensed destinations. The resident catchment population within a 30- minute drive time of Edinburgh city centre is in excess of 1 million persons.
Specifically, the subjects are located in a prominent position at the intersect of East London Street and Broughton Street in the New town area. York Place, the St James Centre and the Omni Centre are a short distance away, as is the core city centre. The new £1 billion St James development nearby will provide a world-class retail, leisure, hotel and residential offer a short walk away, improving the desirability of the local trading area further. The immediate surrounding properties comprise a mix of retail, café and licensed premises, in addition to a generally high value of residential properties. Neighbouring occupiers include the Ox & Finch restaurant, the Cask & Barrel public house and Crombies of Edinburgh. In addition to the new St James, there is also significant office accommodation in the vicinity.
The subjects are formed within the ground floor and basement of a traditional four storey stone constructed tenement building, under a pitched roof clad in tiles. The subjects are Category B listed. The subjects have a have a timber framed glazed frontage and is located in a corner position at the intersect of East London Street and Broughton Street.
The accommodation is as follows:
The subjects are accessed directly from the main street. The subjects have a large glazed frontage. The main entrance has a glazed entrance vestibule.
Providing up to 70 covers on a mix of generally loose tables and chairs. The restaurant has a timber finished floor and a mixture of exposed natural wall finishes. There is an attractive central timber bar servery and gantry. The restaurant benefits from a large window frontage, good visibility and natural light. It is decorated in a contemporary style and fully fitted to a high standard.
Commercial kitchen, fully fitted with catering equipment and commercial extraction. The kitchen has linoleum flooring and part multi panel part metal coverings.
There is a food service lift which connects to the lower ground floor trading level.
Accessible customer toilet / baby change.
There are two customer staircases to the lower ground floor.
The basement bar has similar attractive natural wall and floor finishes with an attractive large seating booth. The space can hold functions for approximately 100 persons. The lower ground floor bar/function bar provides an open plan additional trading space able to accommodate further restaurant covers. The bar may be ideal to operate as a function venue, cocktail /niche bar or function venue. There is a dedicated timber bar servery with gantry. The bar serveries are fully fitted with bottle fridges etc.
Ladies and gents customer toilets finished to a good standard with tiled flooring and timber wall finishes.
Managers office, staff locker room with staff WC, general store, wash up room, walk in fridge and beer chill room.
The property has a premises licence in place.
We understand that the property is connected to all main services including water, electricity, gas and drainage.
The premises are fitted to an exceptionally high standard throughout. The leasehold is now available by way of assignation. This is a great opportunity for an operator to develop a high quality food led licensed business, from a unit that is in great walk in condition.
The subjects are also in a highly desirable and improving trading area as a result of the nearby St James development. The subjects are well positioned to gain trade from the surrounding residents, office workers, retail trade, nearby licensed circuits and city centre trade/visitors. The subjects are priced at an attractive price level with genuine growth possibilities and profit generation. Accounting information will be made available to seriously interested parties after viewing only.
Premium offers over £49,000 are sought for the leasehold, to include fixtures and fittings. Stock is excluded and to be purchased separately. The current rental is £55,000 per annum..
The premises are available by assignation of the existing lease. The lease is of a standard commercial FRI nature. The salient terms are as follows:
To 24th May 2037
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A copy of the lease documentation is available on request.
Each party will be responsible for their own legal costs with the ingoing tenant responsible for any stamp duty, land tax and registration fees. Unless otherwise stated, all commercial terms quoted are exclusive of VAT and taxes.
EPC Rating - G.
Designed & built by Mucky Puddle