For Sale 176 High Street, Musselburgh, Eh21 7Dz

FOR SALE 176 HIGH STREET, MUSSELBURGH, EH21 7DZ

• Prominent Development Site • Site area approx. 0.19 ha (0.47 acres) • Currently two retail units with GIA 1,838 sq.m (19,790 sq.ft) • Retail income £59,000 p.a until July 2021 • Potential for re-development • Indicative scheme for 37 residential units plus 2 commercial units, subject to planning • Prime location within Musselburgh town centre • Technical pack available on request • Offers Invited

The Site

The highly prominent site of approx. 0.19 ha (0.47 acres) is located on the corner of Dalrymple Loan and High Street close to the Rennie Bridge (New Bridge), the main route through the centre of Musselburgh.

The site is currently configured as Use Class 1: Retail and leased to Poundland Limited (Unit 1) and Poundstretcher Limited (Unit 2).

The site has considerable re-development potential.

The site can be sold with the benefit of vacant possession.

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Existing Floor Areas

Unit 1 Sq.m Sq.ft Retail 500.38 5,386 Rear 215.54 2,320 Total NIA 715.92 7,706 GIA 776.81 8,362 Unit 1

Unit 2 Sq.m Sq.ft Unit 2 Retail 586.13 6,309 Rear 395.42 4,256 Total NIA 981.55 10,565 GIA 1061.74 11,428

Rateable Values • Unit 1 (Poundland Limited) - £61,300 Leases • Unit 2 (Poundstretcher Limited) - £71,700 • Unit 1: leased to Poundland Limited on a 10 year full repairing and insuring lease from 18 July 2011 expiring 17 July 2021 at a passing rent of £59,000 per annum. The Lease provides for a rent review on 18 July 2016 which remains outstanding. • Unit 2: leased to Poundstretcher Limited. Under the terms of the recently passed Company Voluntary Arrangement (CVA), no rent is payable from 15 August 2020 until the lease expiry on 17 February 2023. The CVA terms include a mutual break option on 30 days’ notice. Insurance and any service charge obligations continue to be met.

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Connectivity

1. Old Craighall Junction for A1 and City Bypass 2. A1 7 3. Queen Margaret University 8 4. Musselburgh Train Station 3 5. The Musselburgh Golf Club 1 2 4 6 6. Newhailes House and Garden 7. Fort Kinnaird Retail Park 9 8. Portobello 5 9. Fisherrow Harbour 12 10. Brunton Theatre 13 20 10 11. River Esk 18 12. Tesco 14 16 13. Musselburgh Primary Care Centre 11 15 14. Musselburgh Grammar School 19 15. Musselburgh Sports Centre 16. Fisherrow Links 17. Loretto School 18. Inveresk Village 19. Burgh Primary School 17 20. Dundas Estates (consented for 140 units)

The Edinburgh City Bus stops next to and Musselburgh Train Station Edinburgh Airport is Various routes take Bypass and the A1 are opposite the site. Journey approx. 1 mile / Wallyford approx. 16 miles by car. approx. 40 mins to approx. 1.5 miles (Old time to Edinburgh is Train Station approx. 1.5 Edinburgh City Centre. Craighall Junction) approx. 45 minutes. miles. Journey time to Edinburgh is approx. 8 minutes.

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Local Area

• Situated in the thriving historical town of Musselburgh, East Lothian

• Approx. 6 miles east of Edinburgh

• Current population of approximately 22,000

• Offers a diverse range of amenities and facilities

• Ideal for commuting to Edinburgh City

• Well served by bus and rail networks

• Bus stops adjacent to the site

• Musselburgh Train Station approx. 1 mile

• Local supermarkets: Tesco, Lidl, Aldi and Iceland

• Leisure amenities: Brunton Theatre, sports centre/swimming pool, golf courses, Musselburgh Racecourse, John Muir Way walks, cycle paths, two beaches and promenade

• Retail: artisan & independent shops, restaurants and cafes

• Education: Queen Margaret University, Loretto Independent School and Musselburgh Grammar

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Development Potential

The site lies in the defined town centre, adjacent to the Musselburgh Conservation Area and in close proximity to Listed Buildings.

Planning permission will be required for any redevelopment proposal and whilst not allocated for any specific use within the East Lothian Local Development Plan, it is likely that a mixed use development of ground floor commercial with residential use above will be acceptable, subject to a high quality scheme respecting the setting of the Listed Buildings, the character and appearance of the adjacent Conservation Area and the scale of buildings in the surrounding area.

For further information contact: Sheila Hobbs 07800 950 585 [email protected]

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Indicative Schedule of Accommodation

JM Architects have drawn up an outline scheme of 37 residential units plus two commercial units at ground level fronting the High Street.

High Street Units NET Residential Area Sq.m Sq.ft Commercial Commercial 1 bed 11 53 570 Space - A Space - B Police Station

1 bed 3 56 603 High Church 2 bed 17 66 710 Hall 3 bed 3 88 947 3 bed 3 92 990 Total 37 2,413 25,974 Bus Depot

• Plus 2 commercial units of 122 sq.m (1,131 sq.ft) & 173 sq.m (1,862 sq.ft)

• Indicative GIA approx. 3432 sq.m (36,942 sq.ft)

For further information contact:

Rod Duncan Indicative ground floor plan. GROUND FLOOR PLAN 1:500 @ A3 1Bed 2Bed 3Bed 07714 677 715 [email protected]

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8 www.scarlettdev.co.uk/developments/musselburghIndicative Only (Potential New Building) FOR SALE - 176 HIGH STREET, MUSSELBURGH, EH21 7DZ

Energy Perfromance VAT The site is elected for VAT. It is Certificate anticipated the transfer can be treated as a Transfer of a Going EPC Rating = G Concern.

Offers Technical Information Interested parties are advised to note their interest in writing to the selling agents. All parties who notify interest The following information is available will be informed of closing date upon request: arrangements and minimum terms. • EPC Contact • Envirocheck Reports For further information, please • Indicative Scheme contact: • Lease Agreements Will Scarlett • Title Plan 07768 146 642 [email protected] • Topographical Survey www.scarlettdev.co.uk

Further Information

Price Offers are invited on a subject to planning basis.

Scarlett Land and Development and their client give notice that: 1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. 2. Any areas, measurements or distances are approximate. The text, images and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Scarlett Land and Development have not tested any services, equipment, or facilities. Purchasers must satisfy themselves by inspection or otherwise. Particulars Prepared: August 2020

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