Town Centre Location
“Sweet Haven” Dessert Parlour
10year F.R.I. Lease
Passing Rent: £16,000per annum
3 yearly Rent Reviews
£190,000 (G.I.Y of 8.4%)
The subjects are situated on the main thoroughfare of Musselburgh, a popular commuter town close to Edinburgh City Centre.The subjects are situated at a main junction in the town centre of Musselburgh at High Streets junction with Newbigging close to the Musselburgh Race Course.
The subjects comprise an extensive ground floor retail premises within a commercial parade with residential dwellings above. Lighting is provided by way of halogen spot lights recessed within the ceiling, floors are overlaid by ceramic tile. The subjects have been divided into 2 main sections with main sales area to the front, with office, w.c. and staff tea prep facilities situated to the rear of the demise.
The subjects have been measured on a Net Internal Area basis offering the following;
85.4sqm (919sq ft)
The subjects are let by way of a Full Repairing and Insuring lease on the following terms:
Tenant: New Ltd Company
Term: 10 years from 1st May 2018 - 30th May 2028
Tenant Break: 5th Anniversary providing not less than 3 months notice
Rent Reviews: 3yearly cycles
Deposit: A deposit of £4,000 is held by the landlord
Tenant Info: The tenants trade as “Sweet Haven” a dessert and sweet boutique with a current trading business in Tranent. The tenants have invested in excess of £30,000 into their refurbishment of the subjects and following discussion and visiting the subjects, trades very well.
£190,000 Representing a Gross Initial Yield of 8.4% before purchasers costs.
The subjects have not been elected for V.A.T.
Copies of the lease, deposit agreement & E.P.C. are available on request.
Each party shall bear their own legal costs incurred in the transaction.
The subjects can be viewed during opening hours however no discussion or approach is to be made directly to the tenant