Well Established Retail Investment

• Passing rent £13,020 per annum
• Offers over £140,000
• NIY 9.14%

 LOCATION

The property is located on the west side of Richmond Street, just off the busy retail thoroughfare of Rosemount Place and approximately half a mile north of Aberdeen city centre.

Nearby occupiers include Sainsburys, Wool for Ewe and Parkhill Properties

DESCRIPTION

The subjects comprise the ground floor and basement of a 3 storey and attic building of stone construction under a pitched and slated roof. A single storey extension at the rear of the property is of stone construction with a pitched and slated roof. The property benefits from basement storage and outhouses.

Internally the front of the shop comprises a sales/seating area. To the rear is a large kitchen, an accessible toilet, further customer toilet and staff toilet. The property benefits from security shutters and is part double and part single glazed.

FLOOR AREAS

The subjects provide the following net internal floor areas, measured in accordance with the RICS Code of Measuring Practice (Sixth Edition)

Ground Floor                                     84.57 sq m     (910 sq ft)      

Basement                                           37.78 sq m     (407 sq ft)

Outhouse Storage                            189.99sq m    (103 sq ft)

Total                                                   312.34 sq m   (1,420 sq ft)   

LEASE TERMS

The property is leased to Leeanne Coutts until 21^st August 2028 at a passing rent of £13,020 per annum. The lease is subject to an upwards only rent review on 21sr August 2027 to the higher of market rent or RPI. A copy of the lease is available on request.

PRICE

Offers over £140,000 are invited for our clients heritable interest in the subjects reflecting a Net Initial Yield of 9.14% after deduction of standard purchasers costs.

TENURE

Heritable

RATING ASSESSMENT

The valuation role shows a rateable value of £12,750 with effect from 1^st April 2023.

The Uniform Business Rate for the year 2025/2026 is 49.8p in the £. Water and waste water rates are also payable.

ENERGY PERFORMANCE CERTIFICATE

The property has an EPC rating of TBC.

Full documentation is available upon request.

VAT

Any price quoted is exclusive of VAT which may be applicable.

ENTRY

On conclusion of all legalities

OFFERS / VIEWING

All offers should be submitted in writing to the sole agents who will also make arrangements to view.

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