Tenanted Commercial Property LOT 88

80 Castle Street, Forfar, DD8 3AA
OPENING BID

Timed Online Auction

25 August 2022, 10am-3pm

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  • TypeCommercial
  • Ownership Freehold
  • Occupation Tenanted
  • Rateable Value Search SAA

Description

Full Address: 80 Castle Street, Forfar, DD8 3AA

TENANTED INVESTMENT in popular Angus town of Forfar. LET on FRI LEASE - IMMEDIATE RENTAL INCOME OF £7,000 PER ANNUM. Unit extends to approx. 980sq ft.

EXCELLENT DUAL FRONTAGE on to BUSY street. Large ground floor commercial premises currently trading as a Nail Bar. PRIME TRADING POSITION within HIGH Footfall location.

Currently held on FRI LEASE until 1st September 2024 with a passing rent of £7,000 Per Annum. ***PRIME INVESTMENT OPPORTUNITY in TOWN CENTRE LOCATION.

HIGH FOOTFALL LOCATION*** Situated on the east side of Castle Street, opposite itís junction with Manor Street within Forfars TOWN CENTRE.

Forfar is an established market town situated in north central Tayside immediately to the east of the A92 Dundee to Aberdeen trunk road, and is approximately 15 miles from Dundee.

TENANTED INVESTMENT in popular Angus town of Forfar. LET on FRI LEASE - IMMEDIATE RENTAL INCOME OF £7,000 PER ANNUM. Unit extends to approx. 980sq ft. Currently held on FRI LEASE until 1st September 2024 with a passing rent of £7,000 Per Annum. ***PRIME INVESTMENT OPPORTUNITY in TOWN CENTRE LOCATION. EXCELLENT DUAL FRONTAGE on to BUSY street. PRIME TRADING POSITION within HIGH Footfall location. Ground floor commercial premises extending to approx. 980sq ft (91.04sqm). Internally the property is primarily in an open plan layout, with partitions erected to form tea prep and w.c with a private treatment room. HIGH FOOTFALL LOCATION*** Situated on the east side of Castle Street, opposite itís junction with Manor Street within Forfars TOWN CENTRE. Forfar is an established market town situated in north central Tayside immediately to the east of the A92 Dundee to Aberdeen trunk road, and is approximately 15 miles from Dundee.

Forfar is an established market town situated in north central Tayside immediately to the east of the A92 Dundee to Aberdeen trunk road, and is approximately 15 miles from Dundee, the principal administrative centre for the area. It has a population in excess of 14,000 people.

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 1st September 2024
Rent: £7,000 per year / £583 per month
Yield: 10% (approx)
Tenant: Private Individual
Notes:

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Location

Pricing Information & Bidding

Opening Bid: £58,000

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 = 2.75% of Sale Price (Minimum £2,750 + vat)

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

Auction Details

Date & Time: 25 August 2022, 10am-3pm
Type: Timed Online Auction

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