Property Information
Address:
1 Hanover Buildings , Rose Street, Edinburgh
, EH2 2NN
Price: Property no longer available.
Size: 1902 sq ft176 sqm
Primary Category: Shop
All Categories:
Shop,
Property Ref/Movehut: MH287895
Property Ref/Agent: Edinburgh, 1 Hanover Buildings
*Please use the agent ref when calling the agent directly.
Property description
Location
The property is located on Rose Street, between its junctions with Hanover Street and Frederick Street. Rose Street runs parallel to both Princes Street and George Street.
The Hanover Buildings lie adjacent to the proposed 90,000 sq ft Primark, which is currently under development and will be their
1st store in the city. Upon completion there will be entrances on both Princes Street and Rose Street, which will significantly increase footfall on this section of Rose Street.
Other occupiers in the vicinity include Holland & Barrett, William Hill, The Filling Station, Goodstead, Nevisport and a number of bars and restaurants.
Description
The subjects comprise a retail unit arranged over ground floor only, with an extensive retail frontage. We estimate that the subjects provide the following approximate areas:
Ground floor 1902 sq ft 176.70 sq m
Rating
We have been verbally advised by the local Assessors Department that the subjects are entered in the Valuation Roll as follows:
Rateable Value £85,500
Commercial Rate Poundage 48.1p £0.458 (exclusive of water and sewerage rates)
Planning
We understand that the property currently benefits from a sui generis consent. Interested parties are advised to make their own enquiries directly with the local Planning Department with respectto alternative uses.
Rent
£102,000 per annum exclusive of VAT.
Lease Terms
The property is currently held on long term term full repairing Lease expiring 31st September 2027, incorporating 5 yearly upward only reviews, with the lease to be reviewed at 1st October 2012
Legal Costs
Each party is to be responsible for their own legal costs incurred in connection with this transaction. The ingoing tenant will be responsible for Stamp Duty Land Tax and any VAT incurred
Thereon.
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