Gross Initial Yield: 7.80%
Rental Income: £15,600 p.a.
VAT is applicable to this property
Comprising ground floor takeaway shop with large basement
Potential to apply for restaurant license to significantly increase the value of the property, subject to obtaining the necessary planning consents
Occupiers nearby include TSB Bank, amongst number of local takeaway shops, pubs, tattoo studios and utility stores
The property is arranged as a ground floor takeaway shop t/a Olive & Fig Edinburgh with ancillary accommodation in the basement. Development potential to convert into restaurant, subject to obtaining the necessary planning consents.
The property provides the following accommodation and dimensions:
Ground Floor: Takeaway Shop 115.28 sq m (1,241 sq ft)
Basement: Ancillary accommodation
The property is at present let to TRPF GORGIE EDINBURGH LTD for a term of 15 years from 1st June 2016 at a current rent of £15,600 per annum and the lease contains full repairing and insuring covenants. The lease provides for rent reviews in 2021 and 2026 and tenant has option to determine in 2021 and 2026 with minimum 6 months` notice. Rent deposit is held of £5000.
Gorgie Road forms one of the main road links between the west of Edinburgh and the city centre. The property is located approximately two miles from Edinburgh city centre. Occupiers nearby include TSB Bank, amongst number of local takeaway shops, pubs, tattoo studios and utility stores.