Vacant Commercial Property LOT 198

64 Millgate Loan, Arbroath, DD11 1QW
OPENING BID

Timed Online Auction

23 September 2021, 10am-3pm

Bidding Closes in

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

Description

Full Address: 64 Millgate Loan, Arbroath, DD11 1QW

Substantial HMO property in central Arbroath near to the Marina and Inner Harbour. The property requires some internal renovation however the property is currently occupied and tenanted.

COMPRISES: 16 Bedrooms and on average returned 35,000 to 40,000 per annum. The rooms can be let out on 60 to 90 per week. Property features large garden grounds and generous room sizes.

Ideal Investment Opportunity with Great Capital Growth Potential and Great Returns. Property would lend itself to a large family home, hotel, BnB or renovation into an office (Subject to investigating and gaining necessary planning consents.)

The Property Benefits From: Conservatory, Front and Large Back Garden, Private Parking and Stunning Sea Views. Popular Angus town of Arbroath next to the beautiful Victoria Park and local amenities.

Former B&B, with HMO Licence for 16 Rooms Located in the Town of Arbroath. Arbroath lies on the North East coast just a short distance from Dundee, with many attractions and a picturesque harbour.

Substantial HMO property in central Arbroath near to the Marina and Inner Harbour. The property requires some internal renovation however the property is currently occupied and tenanted. Property would lend itself to a large family home, hotel, BnB or renovation into an office (Subject to researching and gaining the necessary planning consents - Angus Council). Freehold Sal Instruction. COMPRISES: Entrance Hallway, 16 individual Bedrooms, Large Living Room, Two Kitchens, Bathroom, Shower Block and W/C's. The Property Benefits from Conservatory, Gardens, Private Parking area (which could offer further development with Sea Views). The property has 16 Bedrooms and on average returned 35,000 to 40,000 per annum for the past 10 years. The rooms were let out on 60 to 90 per week. If all rooms are occupied the property will reach a yield of 18% against the guide price. Financial Sale Instruction. Arbroath on the North East coast just a short distance from Dundee, with many historic attractions and a picturesque harbour. Property is just a short walk to the beach.

Arbroath on the North East coast just a short distance from Dundee, with many historic attractions and a picturesque harbour. This property is only 30 minutes drive from Dundee and is only 15 minutes by train. Arbroath offers a diverse range of shops, bars and restaurants, with the famous Arbroath smokies available on the beachfront, which are renowned throughout Scotland. With Aberdeen just over an hour away, tenants are likely to work in the fishing, oil and services industry. There are also good primary and secondary schools along with Angus College Further Education Institute. Commuters have discovered that Arbroath is ideal for commuting to Dundee providing access to main A90 road north and south. Arbroath train station is located right beside the property. The town has excellent sports and leisure facilities, complemented with many local clubs, golf, tennis, football, rugby and bowls all available.

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Location

Pricing Information & Bidding

Opening Bid: £187,000

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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Offer Now... You may submit an offer now on this property for the owner to consider. If they are will are willing to sell you the property now then it is a matter of making the required deposit payment to secure the purchase. Complete our ONLINE OFFER FORM now to put your offer forward to the sellers.

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Terms of Sale

  • 5% 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

View Full Auction Catalogue

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