Prestigious single-let office investment.
1 Queen's Cross is a prominent detached office building laid out over lower ground, ground, first and attic floors. To the rear of the property is a high quality modern extension fitted out to provide a banking hall with open plan office accommodation. The property benefits from 32 car parking spaces providing an excellent parking ratio of 1:266 sq ft.
( Agency Pilot Software ref: 14762 )
Location
Aberdeen is Scotland’s third largest city with a population of approximately 220,000 and a regional catchment population of over 500,000. The city and the surrounding region has long been regarded as one of Scotland’s biggest success stories being a key engine of the Scottish and UK economies. For over four decades, the city has been recognised as Europe's energy capital, a status that is poised to endure well into the future. A growing number of local companies are leveraging their infrastructure and skilled workforce to diversify into lucrative renewable energy sectors. The city is set to gain substantial support from both private and public sectors in the coming years, with the development of the Energy Transition Zone (ETZ), an £80 million fund to create an Investment Zone and its selection as the location for the highly anticipated GB Energy company
heart of Aberdeen’s West End business district, occupying a highly prominent site at the junction of Albyn Place and St Swithin Street. This area is considered to be 100% prime and has attracted several notable occupiers including RBS, Bank of Scotland, Johnston Carmichael, Azets, Nexos, Genesis Energies, Thorpe Molloy Recruitment, Stronachs, Shepherd & Wedderburn, Savills and Albyn Hospital. Other amenities within Carden Place the area include a host of local cafes, restaurants and convenience stores.
Accommodation
Lower Ground Floor319.43 sq m (.3,438sq ft )
Ground Floor 313.26 sq m (.3,372 sq ft )
First Floor . 158.42 .sq m (1,705sq ft )
TOTAL 791.11 sq m (8,515 sq ft )
Terms
Tenure Heritable (Scottish equivalent of Freehold).
Energy Performance Certificate (EPC) The property has an EPC rating of B. A copy of the EPC is available upon request.
Proposal Offers over £2,100,000 excluding
VAT are sought for our client’s heritable interest in the building. A purchase at this level would show an attractive net initial yield of 10.1% after deduction of purchaser’s costs and LBTT. Any unexpired initial rent concessions shall be deducted from the purchase price at settlement.
VAT The property has been elected for VAT and it is anticipated the sale will be treated as a Transfer of a Going Concern