26 North Bridge Edinburgh Midlothian EH1 1QG

26 North Bridge
Edinburgh
Midlothian
EH1 1QG

Heritable (Scottish Equivalent of English Freehold) Retail Investment

Rent subject to note 2
Let to D G A D J Victor Scott (t/a Victor Scott Kilt Makers
Excellent city centre location close to the landmark hotels, The Carlton and The Scotsman
Nearby occupiers include Argos, Boots the Chemist, Specsavers, Pizza Express and Royal Bank of Scotland

Lot
18
Auction
8th July 2010
Rent
£53,500 per Annum
Status
Sold Prior
Price
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
Mayfair
London W1K 2HP

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Heritable (Scottish Equivalent of English Freehold) Retail Investment

Rent subject to note 2
Let to D G A D J Victor Scott (t/a Victor Scott Kilt Makers
Excellent city centre location close to the landmark hotels, The Carlton and The Scotsman
Nearby occupiers include Argos, Boots the Chemist, Specsavers, Pizza Express and Royal Bank of Scotland

Lot 18
Auction 8th July 2010
Rent £53,500 per Annum
Status Sold Prior
Price
Sector
High Street Retail
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
Mayfair
London W1K 2HP

Property Information

Location

Estimated District Population: 475,000 (Edinburgh city centre
Miles: 400 metres south of Princes Street (Edinburgh's main retailing street)
Roads: A1, A7 and A720 (City By-pass)
Rail: Waverly Train Station (400 metres)
Air: Edinburgh Airport (8 miles)

Situation

The property is situated on the east side of North Bridge, one of Edinburgh's main arterial routes and an extremely busy thoroughfare benefiting from its close proximity to the Royal Miles and Edinburgh Castle. Nearby occupiers include Schuh, Boots the Chemist, The Royal Bank of Scotland and Argos along with two of Edinburgh's premier hotels: The Scotsman and The Carlton.

Tenure

Heritable. (Scottish Equivalent of English Freehold)

Location

Estimated District Population: 475,000 (Edinburgh city centre
Miles: 400 metres south of Princes Street (Edinburgh's main retailing street)
Roads: A1, A7 and A720 (City By-pass)
Rail: Waverly Train Station (400 metres)
Air: Edinburgh Airport (8 miles)

Situation

Tenure

Heritable. (Scottish Equivalent of English Freehold)

Description

The property comprises RETAIL ACCOMMODATION on the ground floor with STORAGE AND STAFF ACCOMMODATION at basement level, The upper floors are under separate ownership and currently provide OFFICE ACCOMMODATION.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
Ground Basement	Sales Area Staff and Storage	186.6 sq m 67.6 sq m	(2,009 sq ft) (727 sq ft)	D G A D J VICTOR SCOTT(t/a Victor Scott Kilt Makers)	5 years from 01/07/2009 (1)	£53,500 (2)	30/06/2014
Totals		254.2 sq m	(2,736 sq ft)			£53,500

(1)The existing lease is subject to a tenant only break option on 30th June 2012 (subject to six months' written notice). (2)The vendor has currently provided the tenant with a back letter (not annexed to the lease) detailing that the rent will be reduced to 52,500 per annum exclusive until completion of on-site works. The tenant's repairing obligation is limited until these works are complete. Furthermore, the rental deposit of 10,000 will be topped up to 13,375 when the works are complete.