209-213 High Street

Restaurant Investment in the Heart of Edinburgh Old Town

EDINBURGH EH1 1PE

EDINBURGH IS SCOTLAND’S CAPITAL CITY AND HOME TO THE SCOTTISH PARLIAMENT, THE FRINGE FESTIVAL, NATIONAL MUSEUM OF SCOTLAND AND MURRAYFIELD STADIUM. EDINBURGH INTERNATIONAL AIRPORT LIES APPROXIMATELY 8 MILES WEST OF THE CITY CENTRE AND IS ONE OF THE UK’S FASTEST GROWING AIRPORTS. THE CITY BENEFITS FROM TWO MAJOR TRAIN STATIONS – WAVERLEY AND HAYMARKET AND IS ALSO EXCELLENTLY SERVED BY PUBLIC TRANSPORT.

This city has a population of around 500,000 and is expected to grow to 583,140 by 2041. Edinburgh has a relatively young population, with over half of males and females in Edinburgh being aged 16-49 years old. This is largely due to the various Universities and Colleges situated in the city. In 2017 Edinburgh City Council recorded 60,000 full time students living in Edinburgh - representing 27.5% of all higher education students in Scotland (Edinburgh by Numbers, 2018).

Edinburgh attracts around 4 million tourists every year and draws in more overseas visitors per year than all other UK cities outside of London. Most notably, Edinburgh Old Town hosts The Fringe Festival and book festival every summer, which has an attendance of around 2.7 million people. Edinburgh festivals collectively attract audiences in excess of 4.5 million and have an economic impact of £313 million annually (BOP Consulting, 2018).

Edinburgh’s Economic activity is higher than the respective national averages. Between 2001 and 2016 the Edinburgh economy, measured as GVA, grew by 21.2%. This increase was larger than most UK cities, as well as this increase in GVA, Edinburgh has one of the highest survival rates for small business in the UK. These statistics have been interpreted as evidence of Edinburgh’s vibrant economy.

EDINBURGHLET TO ERDOL HOSPITALITY LTD TRADING AS BUBBA Q RESTAURANT

12 YEARS UNEXPIRED (NO BREAKS)

PASSING RENT £ 50,000 PER ANNUM

PRICE ON APPLICATION

209-213 HIGH STREET, EDINBURGH, EH1 1PE

209-213 HIGH STREET, EDINBURGH, EH1 1PE

The subjects are excellently situated within the very heart of Edinburgh Old Town – a bustling historical heritage centre containing many of Edinburgh’s main tourist attractions, bars and restaurants.

More specifically the subjects occupy a prominent position on the High Street - one Edinburgh’s main tourist hot spots. The property benefits from high levels of footfall from Cockburn Street, South Bridge and the Lawnmarket. Furthermore, the subjects benefit from large crowds gathering for street acts, festival activities and tourist attractions.

The location is well serviced by public transport and is within a 5 minute walk to Waverley Train station offering national rail services.

The High Street provides an electric mix of bars, cafes restaurants, hotels, shops, as well as, multiple tourist attractions and historical landmarks. Immediate surrounding occupiers include; Currency Exchange, Starbucks, Frankie & Benny’s, Subway, The House of Edinburgh and The Whisky Trail.

SITUATION

LAURISTON PLACE

PRINCES STREET

HAYMARKET STATION

WAVERLEY STATION

LOTH

IAN

RO

AD

MANO

R PLACE

MELVILLE STREET

ROTHESAY PLACE

QUEENSFERRY ROAD

BELFORD

ROA

D

A90

A90

A90

PALMERSTO

N PLACE

A700

LAU

RISTO

N G

AR

DEN

S

SEMPLE ST

GR

OV

E STREET

BREAD STREET

GRASSMARKET

GILMORE PLACE

GILMORE PLACETARVIT STLOCHRIN PL

A70

2

GILMORE PARK

VIEWFO

RTH

MO

NTPELIER PA

RK

DORSET PL

YEA

MA

N PLA

CE

POLWARTH GDNS

LEAMINGTO

N TERRACE

GEORGE STREET

HA

NO

VE

R STR

EE

T

THISTLE STREET

HO

WE

STRE

ET

GLO

UC

ESTER LN

DEAN P

ARK CRES

CENT

YOUNG ST CA

STLE ST

ALBYN PLACE

QUEEN STREETHERIOT ROW

A9

00

A8

A70

A8

W COATES

GARDE

NE

R’S C

RES

PLE

ASA

NC

E

CHAMBERS ST

HIGH ST

CLERK

ST

BUCCLEUCH PL

MELVILLE DR

SYLV

AN

PL

SCIENNES RDHATTON PL

AR

GY

LE P

L

GRANGE RD

S CLER

K ST

MIN

TO ST

HO

LYRO

OD

PA

RK R

D

A70

W APPROACH ROAD

WARRENDER PARK TERRACEE PRESTON ST

DALKEITH RD

BU

CC

LEUC

H ST

NICO

LSON

ST

POTTER

RO

W

ABERCROMBY PLACE

DEA

N PATH

AT HOLL C

RE

S

CASTLE TERRACE JOHNSTON TERRACE

A1

A1

E MARKET STNO

RTH

BR

IDG

E

NE

W ST

THE ROYAL MILEMARKET ST

MORRISON STREET

WEST A

PPROACH ROAD

KING’S STABLES RD

209-213 High Street

209-213 HIGH STREET, EDINBURGH, EH1 1PE

ACCOMMODATION The subjects compromise a single frontage restaurant unit extending over the basement level and upper levels of a traditional stone built tenement building. Internally, the lower ground floor provides a fully fitted Class 3 restaurant & bar, with Kitchen and toilet facilities to the rear. The upper level also compromise a fully fitted restaurant unit, with WC & storage facilities. Furthermore, the upper floors offer a total of 578 sq ft of storage/staff space.

From our measurements taken on site we understand the accommodation extends to:

Areas / Floor etc Sq M Sq Ft

Restaurant/Bar/Cellar/Kitchen’s/WC’s 101.37 1,091

Upper Level Restaurant/Bar/WC/Storage 47.70 513

Upper Storage/Staff 31.50 339

Upper Storage/Staff 22.20 239

Total 202.77 2,182

TENUREOutright ownership/heritable (Scottish equivalent of English Freehold).

TENANCYThe property is let to Erdol Hospitality Restaurant Ltd (trading as Bubba Q Restaurant) on a Full Repairing and Insuring (FRI) lease. The lease commenced in May 2016 and expires in May 2031.

The rent is passing off £50,000 per annum and will be reviewed in May 2021/2026.

THE TENANT The property is let to Erdol Hospitality Ltd trading as Bubba Q’s.

Bubba Q is an American BBQ style restaurant and bar offering some of the finest smoked, marinated, slow-cooked and grilled meats in Scotland. Since opening in 2016 the restaurant has quickly earned a reputation for excellence drawing in regular guests, as well as, tourists.

Further info at: http://www.bubbaq.co.uk/

PRICEPrice On Application.

IMPORTANT NOTICE: 1. These particulars are intended as guide only. Their accuracy is not warranted or guaranteed. Intending Purchasers/Tenants should not rely on these particulars but satisfy themselves by inspection of the property. Photographs only show parts of the property which may have changed since they were taken. 2. Graham + Sibbald have no authority to give any representation other than these particulars in relation to this property. Intending Purchasers/Tenants take the property as they find it. 3. Graham + Sibbald are not authorised to enter into contracts relating to this property. These particulars are not intended to nor shall they form part of any legally enforceable contract and any contract shall only be entered into by way of an exchange of correspondence between our client’s Solicitors and Solicitors acting for the Purchaser/Tenants. 4. All plans based upon Ordnance Survey maps are reproduced with the sanction of Controller of HM Stationery. 5. A list of Partners can be obtained from any of our offices. 6. Date of Publication: May 2019.

0131 240 5311

VATWe understand the property has been elected for VAT. It is anticipated the transaction could be treated by way of Transfer of Going Concern (TOGC).

EPC RATINGAvailable upon Request.

FURTHER INFORMATIONSandy Gilmour sandy.gilmour@g-s.co.uk

Murdo McAndrew murdo.mcandrew@g-s.co.uk

Peter Seymour peter.seymour@g-s.co.uk