A prominent retail unit in a town centre location with opportunity to part develop into residential use.
Retail - Penicuik
CLOSING DATE – WEDNESDAY 20th SEPTEMBER 2023 at 12.00 NOON
The property comprises a ground and first floor retail unit, formed within a two storey, corner building, constructed of solid stone (part harled and tile clad) walls, under a twin pitched slate roof.
The display windows face east onto the High Street, being the main thoroughfare, and the building lies in a prominent position within the town centre, at the junction with West Street and Bridge Street.
Internally, the unit was previously used as a carpet and home furnishings retailer. It has a sizeable ground floor retail area to the front with open access to a rear retail area, with small staff room/office off. To the rear, a staircase gives access to the first floor, with a small landing, leading up to three separate retail areas, with a staff room/WC.
The property title also includes garden ground to the rear with steps leading down from the first-floor retail area and direct garden access off West Street, by way of a garden door.
The property benefits from Planning Permission in Principle for the separation of the unit, retaining retail space at ground floor level and conversion of the first-floor space to two, one bedroom flats.
2-4 High Street is located within the heart of the Conservation Area of Penicuik, at the south-west end of the High Street at the junction with West Street. It sits in a prominent position, at the end of the street, with window frontage looking onto the High Street.
Penicuik is a mainly residential, satellite town, servicing Edinburgh, but originating around the older High Street (now a Conservation Area). It retains a population of around 16,000 people and lies approximately 9 miles south of Edinburgh City Centre.
The High Street retains a mixture of retail units, offices and residential properties, with a central, tree lined, market square area, creating a pleasant town centre location.
From Straiton, on the south side of the Edinburgh City bypass, head south on the A701 and continue, following the signs for Penicuik. Once into the town, continue on the A701 through the town. At the south end of the town, the road sweeps round and onto the High Street. The property can be seen straight ahead, at the bottom of the High Street. Parking is available on the High Street market square area.
Post Code: EH26 8HW
We have measured the property in accordance with the RICS Code of Measuring Practice 6th Edition. From our measurements, the approximate Net Internal Areas of the property are, as follows:
Ground Floor – Main Shop – 111 sqM; Staff room/store – 6.3 sqM
First Floor – First floor retail area – 102 sqM; Staff room/WC – 3.5 sqM
Total – 222.8 sqM
The property includes a timber shed, located to the rear of the building.
According to the Scottish Assessor’s website, the subjects have a Rateable Value of £13,200. The uniform business rate for the current year is £0.498 pence in the pound.
In the 2023/2024 financial year, the Small Business Bonus Scheme gives tapered relief from 100% to 25% for properties with rateable values between £12,001 and £15,000.
Mains water, drainage and electricity. Linked security alarm system.
Please note that VAT is not chargeable.
Planning permission was granted by Midlothian Council on 13 April 2023 (Ref 23/00116/DPP) for the conversion of the first floor to two one-bedroom flats. Further details and copies of planning documentation are available on request from the selling agents.
By mutual agreement.
VIEWINGS AND FURTHER INFORMATION
For further information or to arrange an appointment to view please contact Walker Scott Ireland Ltd. Viewing is strictly by appointment. Interested parties are advised to note interest with Walker Scott Ireland Ltd in order to be kept informed of any closing date that is set. Please note, our client need not accept the highest offer, nor indeed any offer.
ANTI-MONEY LAUNDERING REGULATIONS
To comply with current Anti-Money Laundering Regulations, any offer presented must be accompanied with Notarised/certified photographic evidence of the purchaser’s identity and separate evidence of the purchaser’s residential address, or the offering parties must attend our offices with the original documents, before any acceptance of the offer can be confirmed and the property put “Under Offer”.