18 Holburn Street Holburn Street, Aberdeen, AB10 6BT

£ 13,000 pa / 1,020 sq ft
18 Holburn Street, Aberdeen - Picture 2023-09-27-15-36-17
Use Class

Use Class

E

Size

Size

1,020 sq ft

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.

The subjects are located on the west side of Holburn Street in close proximity to Holburn Junction, leading to Union Street and the West End retail and office district. Nearby occupiers include Aberdeen Solicitors Property Centre, Run4It, Sainsbury’s, Starbucks and Tesco Express.

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

Areas
Sq.Ft
Sq.M
Ground Floor
788
73.24
Basement
232
21.53

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

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

Rateable Year:
2023
Rateable Value:
£1,325.00

Sustainability

Energy Performance Certificate

236

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

About Aberdeen

Aberdeen

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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.

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This was last updated on 20/02/2024