Property to rent
Property description & features
LEASE DISPOSAL/BUSINESS SALE
· Very busy main road in Morningside, Edinburgh
· Surrounded by many other businesses & large residential area
· Close to multiple schools
· Benefitting from high levels of passing trade
· Current trading hours are 3:00pm – 11:00pm - 7 days a week. However, these can be extended to include Breakfast, Brunch, Lunch, etc.
· 1 and half year lease remaining with further 5 years minimum extension being offered to the new owner. Further, negotiable with landlord.
Weekly sale £3.5-4k, accounts available after viewing. No business rates.
LOCATION
The business is 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 including no. 5, 11, 16, 30, etc. 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 the perfect condition for the right owner to walk into a successful trading business.
THE BUSINESS
Sweet Paradice Desserts is a well known dessert parlour in Morningside. It offers mouth-watering desserts along with delicious flavours of ice cream and our customers are always spoilt for choice. Further, customers travel from all over the UK to visit, specially for our unique Matilda cake.
Further, recent winner of the best new business award 2023 , the shop trades successfully and have built up a strong following in Edinburgh and the local community.
The business online platforms include own website, via food partners JustEat, Uber and Deliveroo which all boast a high rating of 4.6+. Customers can also visit in store for sit in and takeaway. Extra revenue streams opportunities are also available such as birthday parties, school events, corporate customers etc.
The shop is fully fitted to start trading from day 1, and all the equipment and stock is included in the sale. Inventory includes boston freezer, cake fridge, milkshake blenders, waffle machine, crepe maker, oven, etc. There is too much to list, viewings are recommended.
Accounts can be discussed and fully shared with genuine 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.
There is 1 and half year lease remaining with further 5 years minimum extension being offered to the new owner. Further, negotiable with landlord.
PREMIUM
A premium of around £25,000 is sought for the leasehold, business and fixtures and fittings. Open to reasonable offers.
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 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.
Property information from this agent
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Property reference P724. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by ime DJK Group - Commercial.
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Broadband availability and predicted speed: obtained from Ofcom on November 9, 2022
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
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Mobile phone signal availability and predicted strength
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Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
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