Comprising a Cat B Listed, former bank branch at ground level with managers accommodation above, the upper floors have latterly been used as offices, although they are now vacant and planning permission and Listed Building Consent have been obtained (see below). The ground floor is no longer used as a bank branch although it is still let to RBS until June 2015. A new 10 year lease in respect of the ATM has been entered into (see separate heading)
The property retains many period features such as window shutters, ornate cornicing, generous room sizes and high ceilings. To the rear is a large walled garden laid mainly to grass.
Location
With an estimated population of nearly 6,300 the historic seaside town of Burntisland is only 6 miles from Kirkcaldy and 16 miles from Edinburgh.
The property is centrally situated on High Street only a moments walk from the park and the popular ‘blue flag’ accredited beach.
Accommodation
Ground Floor - 139.7 sqm (1,504 sqft) GIA - 127.3 sqm (1,370 sqft) NIA
First Floor - 91.0 sqm (979.5 sqft) GIA
Second Floor - 91.1 sqm (980.6 sqft) GIA
Total - 321.8 sqm (3,463.9 sqft) GIA
Terms
PLANNING
Planning Permission ref 12/00473/FULL and Listed Building Consent ref 12/00475/LBC were granted in 2012 for the conversion of the upper floors into 2 flats (1 x 2 bed and 1 x 3 bed – see plans enclosed). The planning permission has a duration of 3 years, expiring October 2015.
In addition, our clients have prepared a feasibility report on the potential development of 4 mews properties within the rear garden ground. Details are available upon request.
GUIDE PRICE
Offers around £180,000
SALE TERMS
The heritable (freehold) interest in this property is available for outright sale. The property is available with vacant possession from June 2015, subject to a new lease in respect of the ATM (See separate heading)
ATM LEASE
Although the bank branch is unused and vacant possession will be given in June 2015, a new 10 year lease has been agreed in respect of the ATM in a self-contained portion of the building that does not impact on the rest of the premises.
The main points are:
Start - 25.06.15
End - 24.06.25 (TBO yr 5)
Rent - £5,XXXa quarterly in advance
EPC
The EPC is rated G. Copies available upon request.
BUSINESS RATES
We understand the bank property is entered into the Valuation Roll (ref: 118129600) with a Rateable Value of £9,XXXa.
Specification
- 10 years rental income from ATM (£5,000 pa)
- Consents in place for upper floor conversions
- Attractive Fife town
- Central High Street location
- Walled garden to rear with development potential