Retail Investment

• Passing rent £8,500 per annum
• Strong reversionary rent potential
• Offers over £140,000
• NIY 5.96%

 LOCATION

The property is located on the north side of Castle Street within the Castlegate area of Aberdeen City Centre. Union Street, Aberdeen’s principal commercial throughfare is a short distance to the west. The surrounding area is a mixture of commercial and residential with nearby occupiers including a Premier Convenience Store, Grade A barbers and the Castle Bar.

DESCRIPTION

The subjects comprise a category B listed mid-terraced retail unit forming the ground floor of a 4 storey and attic building of stone construction under a pitched and slated roof.

Internally the property provides sales area to the front with store room and wc to the rear. The property benefits from a large display frontage.

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                                     81.87 sq m     (881 sq ft)      

LEASE TERMS

The property is leased to Yiu Jong Lee until 16^th June 2026 at a passing rent of £8,500 per annum. There are no further rent reviews. The tenants repairing obligations are restricted by a schedule of condition. A copy of the lease and schedule of condition are available on request.

PRICE

Offers over £140,000 are invited for our clients heritable interest in the subjects reflecting a Net Initial Yield of 5.96% after deduction of standard purchasers costs.

TENURE

Heritable

RATING ASSESSMENT

The valuation role shows a rateable value of £9,400 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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