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18 Holburn Street Holburn Street, Aberdeen, AB10 6BT
Agents
FG Burnett
Richard Noble
Use Class
E
Size
1,020 sq ft
Rent pa
£13,000
Description
City centre retail investment opportunity in close proximity to west end office area & union street
The subjects comprise part of the ground and lower ground floors of a four-storey and basement traditional granite building with a pitched and slated roof. There is an extension to the rear. The property is fitted out as a restaurant in the tenant’s own style.
Key Information
Viewing
All offers should be submitted in writing to the sole agent.
Further Infomation
Additional
To satisfy HMRC and RICS guidance, FG Burnett is required to undertake AML diligence on both the purchasers and vendors. Accordingly, a successful bidder will be required to provide detailed financial and corporate information and FG Burnett will undertake the necessary ‘Know Your Client’ identity checks, to satisfy current AML requirements when Heads of Terms are agreed.
Accommodation
1,020 Sq.Ft
The following approximate net internal floor areas have been calculated in accordance with the RICS Code of Measuring Practice (Sixth Edition):-
Financial
Lease Term
Heritable. The subjects are let on a full repairing and insuring basis (subject to a Schedule of Condition) to SKUK20 Limited from 12 January 2022 for a period of 10 years expiring on 11 January 2032 and incorporating an upwards only rent review to open market rental value on 11 January 2027. The rent is £13,000 per annum
Rent
Our client is seeking a price of £120,000 for their heritable interest in the property. A purchase at this price reflects a net initial yield of 10.64%. The rent is £13,000 per annum.
Costs
Each party will be responsible for their own legal costs incurred in the transaction. The purchaser will be responsible for any LBTT and registration dues applicable
Tenure
Freehold
Vat
We have been advised that no VAT will be applicable to the purchase price.
Business Rates
The Valuation Roll shows a Rateable Value of £13,250 effective 1 April 2023. The purchaser may have the right to appeal the Rateable Value. Interested parties should verify all rating figures with the Local Authority.
Rates
Sustainability
Energy Performance Certificate
Energy Performance Certificate Information
The property holds an Energy Performance Rating of G. (236). A copy of the full Energy Performance Certificate and Recommendation Report is available from the letting agent
Misrepresentation Notice
All the above information and descriptions (whether in the text, plans or photographs) are given in good faith but should not be relied upon as being a statement of representation or fact. Any areas, measurements or distances referred to are approximate only.
All data ©2024 Completely Property Technology Limited
This was last updated on 20/02/2024