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Marketed by
2 Bridge Street & 42 Market Street 2 Bridge Street & 42 Market Street, Ellon, AB41 9AA
Use Class
E
Size
3,103 sq ft
Price
£275,000
Market Sector
High Street Scheme
Description
For Sale / Part Let Investment
The subjects comprise a two storey and attic building of block construction. The property sits beneath a pitched and slated roof incorporating dormer projections onto Bridge Street and Market Street.
2 Bridge Street:
• Self-contained retail unit occupying a prominent corner pitch.
• Benefits from full height double glazed retail windows across the entire return frontage.
• Accessed via a recessed entrance door off Market Street.
• The property comprises an open plan retail unit with ancillary areas to the rear.
42 Market Street:
• Two storey office, accessed off Market Street.
• The first floor is let to Wren Sterling.
• The attic floor is vacant and benefits from an existing Class 11-Leisure use.
• The offices are largely open plan with a mix of private offices and staff welfare facilities.
Location
Ellon is a market town within Aberdeenshire, located to the north of Aberdeen City. The subject is located on the corner of where Bridge Street and Market Street intersect within Ellon Town Centre. The building occupies a prominent roadside position and the retail unit benefits from a return frontage. Surrounding occupiers include Hey Sweetie, Annie’s Tea Room, Ellon Post Office, Rowlands Pharmacy, Jax Fish and Chips and Aloha Beauty Salon.
Situation
Investment Opportunity The first floor is let to City Financial Aberdeen Ltd, who are now part of Wren Sterling. The salient lease terms are as follows:
• Passing rent: £17,400 per annum exc VAT.
• Lease expiry: 1st August 2029.
• Tenant break option: 1st August 2027.
• Rent Review provisions on 1st August 2027, and 1st August 2028, to Open Market Rental Values capped at a 10% increase per year.
Accommodation
3,103 Sq.Ft
The subjects have been measured in accordance with the RICS Code of Measuring Practice (Sixth Edition) and the following Net Internal Areas derived:
Financial
Rent
Subject to contract, rental offers are invited in the region of £17400 per annum exclusive of rates, service charge, VAT (if applicable) and all other outgoings.
Costs
Each party will bear their own legal costs associated with the transaction. The ingoing tenant will be responsible for any LBTT and Registration Dues applicable.
Price
£275,000 exc VAT for our client’s heritable interest.
Tenure Detail
The upper floors may present a potential for residential redevelopment, subject to planning. The subjects are covered in the Aberdeenshire Local Development Plan 2023. Within the adopted plan the subjects are located in an area designated as Ellon Town Centre (TC).
Vat
The property is not elected for VAT.
Business Rates
2 Bridge Street - £11,500. First Floor, 42 Market Street - £11,250. Attic Floor, 42 Market Street - £5,600. Any ingoing occupier will have the right to appeal the Rateable Value and may also be entitled to certain relief from rates under the various schemes currently available. Interested parties should contact the relevant Local Authority and further information can be found at www.saa.gov.uk
Sustainability
Information available on request.
Disclaimer
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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