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1st & 2nd Floor Development Opportunity, 3-5 New Row, Dunfermline, KY12 7EA

9,542 Sq Ft / Other / Residential

For Sale - £280,000.00

Available - Last updated: 09 September 2022

Prime Town Centre Location

2 Storey Development

1st & 2nd Floor

Planning for 8 Flats at 2nd Floor

4 x 1 Bed & 4 x 2 Bed

Currently Income Producing £21,861p.a.

Planning Consent & Warrant Obtained

9,542sq ft

Price: £280,000

 

Location

 

The property is located on New Row, in a highly visible, corner position in a prime office location on the junction of High Street and New Row. The property overlooks the entrance to the Kingsgate Shopping centre to the north. Immediately to the south of the property is the Alhambra Theatre. From the second floor there are uninterrupted views south towards the Firth of Forth and Edinburgh beyond. This is a busy town centre location in an area of mixed commercial use, including retail, office, leisure as well as some residential uses on New Row and the surrounding streets. There is public car parking on the opposite side of New Row.

 

Property

 

The property comprises the 1st & 2nd floors of a 3 storey commercial development surmounted ted by a pitched roof overlaid in ceramic tile.

 

Commercial units at ground floor are not included within the sale.

 

The property currently forms office space with entrance points at ground floor and the car park to the rear.

Each floor benefits from ceiling mounted air conditioning, with w.c and tea prep facilities at each floor.

 

 The property is accessed from New Row with lift and stair access to the upper floors. Specsavers operate their laboratory function from the part first floor servicing their shop on the High Street below.

The second floor accommodation is vacant with planning consent having been achieved for change of use to 8 residential flats.

 

Planning

 

Planning consent has been granted to convert the second floor to 8 residential dwellings comprising 4 x 1 bed and 4 x 2 bed apartments.

 

Copies of plans can be obtained via www.fife.gov.uk planning reference 18/03114/NMV1

 

Executive Summary

 

The first floor of the property has been divided to form 2no separate suites currently held on F.R.I leases on the following terms;

 

Suite 1

 

Tenant: Specsavers Optical Superstores Ltd

Area: 1,571sq ft

Expiry: 23rd August 2025

Passing Rent: £2,826.38p.a

 

Suite 2

 

Tenant: Fedcap Employment Scotland Ltd

Area: 2,646sq ft

Expiry: July 2020 (running on tacit with mutual break on 3 months notice)

Passing Rent: £19,035p.a

 

Area

 

The property has been calculated to extend to the following internal area;

 

1st: 391.8sqm (4,217sq ft)

2nd: 494.75sqm (5,325sq ft)

 

Total: 886.55sqm (9,542sq ft)

 

Price

 

The property is available on a freehold basis for £280,000

 

V.A.T

 

Prices quoted are exclusive of V.A.T

 

E.P.C.

 

A copy of the E.P.C. will be made available for any interested party

 

Title

 

Available on request

 

Viewing

 

By appointment 

 

Legal

 

Each party shall bear their own legal costs incurred in the transaction

 

Anti-Money Laundering 

 

In order to comply with anti-money laundering legislation, the successful tenant will be required to provide certain identification documents. The required documents will be confirmed to and requested at the relevant time.

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
  For Sale Freehold £280,000.00 NA

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Contact agents

Will Rennie

TSA Property Consultants

0141 538 0192



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