OPENING BID

Timed Online Auction

23 September 2021, 10am-3pm

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

Description

Full Address: 5 Cluny Square, Let TSB Bank Investment, Buckie, AB56 1AH

PRIME LET TSB BANK INVESTMENT PROPERTY Comprises 284.60 sq m (3,063 sq ft). Let to TSB Bank plc on a lease expiring 2026 at 20,000 pa.

Town Centre position close to Post Office, RBS and Co-op Food

All rent payments up to date BENEFIT OF RESTAURANT CONSENT. First floor sub-let and trading as a restaurant. VAT is not applicable

Six Week Completion Available

Current Rent Reserved 20,000 p.a.

Comprises 284.60 sq m (3,063 sq ft) of accommodation Let to TSB Bank plc on a lease expiring 2026 (1) Town Centre position close to Post Office, RBS and Co-op Food First floor sub-let and trading as a restaurant VAT is not applicable Six Week Completion Available The first floor is self-contained with access from Cluny Square. We understand it has been sub-let and is presently trading as Bengal Brasserie. We understand the first floor is sub-let at 6,500 p.a. UNIT SIZE: Ground Floor 157.60 sq m 1,696 sq ft. First Floor 127.00 sq m 1,367 sq ft. Total 284.6 sq m 3,063 sq ft www.tsb.co.uk. For the year ended 31.12.2020 TSB Bank plc did not report a turnover but reported a loss of 200.5m, shareholders funds of 1.725bn and a net worth of 1.675bn (Source: Experian 17.05.2021)

Buckie is a town on the Moray Firth coast of Scotland and is located 55 miles east of Inverness and 17 miles from Elgin The A98 lies immediately south of the town and provides access to the A96 to the south west The property is situated in the southeast corner of Cluny Square at the heart of the town centre. Occupiers close by include Subway, Post Office, Ladbrokes, RBS, Co-op Food and numerous locale traders

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 2026
Rent: 20,000 per year / 1,667 per month
Yield: 10% (approx)
Tenant: Company
Notes: Let to TSB Bank plc 5 years from 19/01/2021. Rolling tenant break option from 18.01.2023 on 6 months' notice . FR I.

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Location

Pricing Information & Bidding

Opening Bid: £179,000

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 = 2.5% of Sale Price (Minimum £2,500 + 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: 23 September 2021, 10am-3pm
Type: Timed Online Auction

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