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Description

  • Status: Available
  • Type: Commercial
  • Ownership: Freehold
  • Occupation: Tenanted

***PREMIUM INVESTMENT PROPERTY*** Super sized unit located within Fraserburgh Town Centre. Mix of established tenants. ATTRACTIVE YIELD OF 18% based on guide price.

***Detached 3 storey plus attic commercial office building. Currently let at £27,600 pa with scope to increase this through letting vacant units and rent reviews.

***EXCELLENT TRADING LOCATION*** Directly opposite harbour area and close to town centre the building occupies an ideal trading spot***

***Currently let at a combined rent of £27,600 plus VAT over 6 leases*** There are 3 small offices vacant which gives scope to increase the rental income by a further £5,000 pa***

***Fraserburgh is a busy town close to Aberdeen and Peterhead, the town has good travel links with train and bus, with close by leisure facilities.***

*** A substantial 3 storey detached building with additional attic space and 2 storey extension to the side. Internally the property provides a variety of office and commercial space over the three three floors. The premises are located directly opposite the harbour area and close to the town centre. Well within walking distance are other businesses and shops. All of the offices are accessed off Shore Street with there being rear fire exits onto the lane. To the front of the property is ample on-street parking that is on a first come first served basis. Gas central heating is in place to the majority of the property. The whole of the property is connected to mains water and electricity. Currently let to a variety of tenants over 6 leases which are generating an annual income of £27,600 plus VAT. There is scope to increase the annual rent by circa £5000 pa by letting the 3 vacant units. Income may also be be enhanced through rent negotiations. The transaction is subject to VAT at the current rate however we have been advised that a TOGC can be applied.

Fraserburgh is a busy town close to Aberdeen and Peterhead, the town has good travel links with train and bus, with close by leisure facilities. This area includes a variety of impressive traditional buildings including: the Faithlie Centre, a building which has recently been restored and provides space for a range of Council services and community functions; traditional terraces that comprise a mix of ground floor shops and commercial premises, as well as tenement flats and Fraserburgh Old Parish Church, a Classical Georgian Church dating from 1801. The coastal town of Fraserburgh is positioned at the far north-east corner of Aberdeenshire some 42 miles to the north of Aberdeen. It has a rich cultural and historic heritage that is based around its fishing industry and it still remains a major whitefish and shellfish port and a busy commercial harbour. The town has a population of circa 13,500 and is the major retail, commercial and administrative centre for the Banff and Buchan District of Aberdeenshire. Its facilities include a local hospital, a secondary school and a College of Higher Education, an 18 hole golf course, a Community and Sports Centre and miles of sandy beaches that provide some of the best windsurfing conditions in the country.

Full Address: 119-121 Shore Street, Fraserburgh, AB43 9BR

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length:
Rent: £0 per year / £0 per month
Yield: % (approx)
Tenant: Private Individual
Notes:

Document Downloads

Legal Pack (Available)

Pricing Information & Bidding

Opening Bid: £128,000

What is an Opening Bid? This property is entered into an online auction where the bidding will start or open at the above price. Unless specified all properties are subject to a Reserve (minimum acceptable price).

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Terms of Sale

  • 10% Deposit
  • Standard Completion
  • Buyers Fee = 3% of Sale Price (Minimum £3,250 + vat)

STANDARD TERMS OF SALE are 4 week completion with 1 week extension. Sellers can request a varied completion and buyers must satisfy themselves prior to bidding.

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Auction Details

Date & Time: 12 December 2024, 10am-3pm
Type: Timed Online Auction

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