70 Haymarket Terrace, Edinburgh, EH12 5LQ
The property is a retail / café unit, located below four storeys of traditional residential units arranged over ground and basement levels connected by way of a staircase to the front the property. It benefits from a modern glazed frontage and excellent prominence onto Haymarket Terrace. There is a small toilet located on the ground floor with a tea prep / kitchen area on the lower level.
The subjects are located on the stronger north side of Haymarket Terrace, a well-established retail pitch on a main arterial route to the immediate west of Edinburgh city centre. With the Haymarket Station redevelopment and the extension to the tram line now completed, Haymarket has become a very busy thoroughfare. Passenger numbers are forecasted to climb to as high as 10 million a year by 2030. Haymarket is a well established residential and commercial location with a host of Grade A offices in the area. Notable tenants include HM Revenue & Customs, Tesco Finance and the Chartered Institute of Chartered Accountants. Surrounding retailers include Tesco Express, Coates Cafe, Purdie & Co, Elmslies and W. There is a healthy mix of national and other successful local and independent occupiers. The Apex Hotel is also situated very close to the subjects towards the East side of the street. The unit is a short walk from the four acre Haymarket development site acquired by M&G Real Estate. This is to comprise three Grade A office buildings totalling 350,000 sq ft, a 190-room hotel and a 172-room aparthotel which will dramatically transform this part of Edinburgh. Investment firm Bailie Gifford is to relocate its Edinburgh headquarters taking 280,000 sq ft on a 20 year lease within the development.
- Prominent and busy location in the heart of Haymarket
- Near Haymarket Train and Tram Station and in close proximity to the prestigious £350m mixed use development undertaken by M&G and Qmile Group.
- Let to Mitch Sorbie, trading as Pizza & Pasta To Go, until 28th April 2026 at a rent of £18,000 per annum but there is a tenant only break option in 2021
- The 2019 rent review is outstanding
- The premises benefits from a Restricted Class 3 Hot Food Consent
- Heritable Interest
- Offers in excess of £200,000 excluding VAT and subject to conclusion of missives. This reflects a Net Initial Yield of 8.82% assuming standard purchaser’s costs and LBTT
680 sq ft (63.20 sq m)
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