Property Description
The subjects comprise two separate studio spaces situated at first floor level arranged on either side of a main entrance stairwell. A car garage/MOT centre is situated beneath the studios.
Studio 1, to the left of the stairwell, provides an open plan studio with modern LED lighting and a mezzanine area. There are two store areas and a small WC. There’s sufficient space for potentially installing a seating area and stage – UNDER OFFER
Studio 2, meanwhile, provides excellent space for a dance/fitness/yoga studio with full height mirrors running the length of the room. The space also benefits from a changing room, store and male and female WC facilities.
Location
Arthur Street is located in the Leith district of Edinburgh only a short distance from Leith Walk and less than 1 mile from the city centre. The entrance to Arthur Street is virtually opposite Dalmeny Street but it can also be accessed from Pilrig Street.
The subjects form part of a large commercial block bordered on either side by modern residential developments. Leith Walk provides a wide range of amenities including cafes, bars, restaurants and hot food takeaways.
Public transport is widely available in the locality with car parking available on surrounding streets. Balfour Street is the nearest tram stop and is only a short distance away.
Further Information
Accommodation
Studio 1: 220 sq m (2,375 sq ft) (including mezzanine)
Studio 2: 127 sq m (1,369 sq ft)
Rent
Our client is seeking £23,750 per annum and £16,500 per annum for Studio 1 and Studio 2 respectively on a lease term to be negotiated.
Consideration to a single let of both spaces will be considered.
Rateable Value
According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects at 19 (1F) and 21 (1F) have Rateable Values of £9,800 and £8,900 respectively effective 1st April 2023. The uniform business rate for the current year is £0.494 pence in the pound.
Occupiers may be eligible for 100% 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.
Energy Performance Certificate
The EPC rating for the properties is ‘E’.
Utilities
The property is served by mains electricity and water.
Legal Costs
Each party shall bear their own legal costs with the eventual tenant liable for any LBTT and Registration Dues.
Anti-Money Laundering
The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 came into force on 26th June 2017. This now requires us to conduct due diligence not only on our client but also on any purchasers or occupiers. Once an offer has been accepted, the prospective purchaser(s)/occupier(s) will need to provide, as a minimum, proof of identity and residence and proof of funds for the purchase, before any transaction can proceed.
Entry
Upon completion of a formal missive under Scots Law.
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