Retail Investment

• Well established tenant
• Passing rent £11,500 per annum
• Recently refitted by the tenant
• Offers in the region of £125,000
• NIY 9.04%

LOCATION

The property is located on the corner of Thistle Street and Thistle Lane, within the popular West End retail and business area of Aberdeen city centre. Union Street, Aberdeen’s principle commercial thoroughfare is a short distance to the south. Nearby occupiers include Baskin Robbins, Straine Opticians and Bellino.

DESCRIPTION

The subjects comprise a ground floor retail premises forming the ground floor of a traditional, 2 storey and attic building of granite construction under a pitched and slated roof. The upper floors of the building are in residential use. The shop front is single glazed.

Internally the shop comprises a recently refurbished ground floor sales area, store room and staff WC to the rear.

The property benefits from 1 car parking space off Thistle Lane immediately at the rear of the property.

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                                     50.37 sq m     (542 sq ft)      

LEASE TERMS

The property is leased to Kirsty Anne Airnes T/A Flower Vogue at a passing rent of £11,500 per annum. The tenant has been established in this location since 2011 and the lease has recently been extended to 8^th May 2028. There are no further rent reviews. A copy of the lease is available on request.

PRICE

Offers in the region of £125,000 are invited for our clients heritable interest in the subjects reflecting a Net Initial Yield of 9.04% after deduction of standard purchasers costs.

TENURE

Heritable

RATING ASSESSMENT

The valuation role shows a rateable value of £11,750 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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