Description
45 COMISTON ROAD, EDINBURGH EH10 6AB
LEASE DISPOSAL/BUSINESS SALE
· Very busy main road
· Surrounded by many other businesses & large residential area
· Close to schools
· Benefitting from high levels of passing trade
· Hours of opening 3:00pm – 11:00pm 7 days a week
· 2-year lease remaining with guaranteed extension of lease for a further 10 years from landlord
LOCATION
The business is ideally located in the popular upmarket Morningside area of Edinburgh. Morningside is an upscale neighbourhood located south of the city centre. It is known for its independent boutiques, cafes, and restaurants, as well as its beautiful green spaces. It is close to the well-known Morningside clock tower, Hermitage of Braid, Blackford Hill and also several local public and private schools.
Comiston Road provides excellent transport links, with regular bus services connecting the area to the city centre and surrounding areas. The property enjoys easy accessibility for both pedestrians and motorists.
DESCRIPTION
The property comprises of a ground floor retail unit situated within a traditional tenement building. With a generous frontage and large display windows, the property offers excellent visibility and the opportunity for effective product showcasing with excellent sign space and exterior décor.
Internally, the unit has an open-plan welcoming front shop area with service counter to the rear and seating to the left-hand side upon entry. The back shop is more cellular with a storage cupboard and WC set off the hallway and a great back shop area that is fully kitted out to serve the business. There is the addition of a loft storage space accessed by a Ramsay ladder that spans most of the shop. The premises is in walk in condition for a similar occupier.
THE BUSINESS
Sweet Paradice Desserts specialises in delicious instagrammable desserts, including vegetarian, vegan, dairy free and other free from options and people travel from all over the UK to visit.
Recent winner of the best business award, the unit trades successfully and they have built up a strong business with good accounts and a strong following in Edinburgh and the local community.
The business sells desserts online via JustEat, Uber and Deliveroo partner centres. Customers can also visit in store for sit in and takeaway. Extra revenue streams opportunities are also available such as weddings, events, school events, corporate customers etc.
The unit is fully fitted, and all the equipment is concluded with items for this type of business such as display fridges and freezers, waffle machine, Ice cream counter, blenders, new electric water boiler/heater, etc… there is too much to list, viewings are recommended.
Accounts can be discussed and shared with proper interested parties after viewing.
ACCOMMODATION
Based on our recent measurement survey, the property offers the following approximate net internal area:
Ground Floor: 50 sq. m (538 sq. ft)
RENT & LEASE DETAILS
The sitting rent is £12,000 per annum on Full Repairing and Insuring (FRI) terms. The tenant has spoken with the landlord and there is scope to extend the lease for up to 10 years (12 years in total) for a good covenant with a good business acumen.
PREMIUM
A premium of £30,000 is sought for the leasehold, business and fixtures and fittings.
VAT
No VAT.
SERVICES
The property is connected to mains electricity, water.
ENERGY PERFORMANCE RATING
The Energy Performance Certificate (EPC) rating is currently pending.
RATEABLE VALUE
According to the Scottish Assessors website https://www.saa.gov.uk/ the property has a Rateable Value of £8,900. The uniform business rate for the current year is £0.49 pence in the pound (as of April 2023).
Occupiers may be eligible for rates relief through the Small Business Bonus scheme if the combined rateable value of all their business premises in Scotland is £35,000 or less.
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.
Leasehold Terms:
Trading Hours:
Support and Training:
Location Details:
Is this business relocatable:
Is this business home based:
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Website address:
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