Chanonry Court is a new development of 18 terraced industrial units on a site of approximately 1.46 acres, constructed around a central yard and car park.
Location
Chanonry Court is situated on Chanonry Road South in the well established Chanonry Industrial Estate approximately 1 mile east of Elgin city centre.
Elgin has a population of approximately 23,000 and is the administrative and commercial centre for Moray. Elgin is easily accessible via the A96 trunk Road, connecting both Inverness (38 miles) and Aberdeen (66 miles), both of which are also accessible via the public rail network.
Accommodation
FLOOR AREA - The development comprises 18 units totalling 2,041.8 sq.m. (21,978 sq.ft). This comprises 14 units of 91.7 sq.m. 986 sq.ft with unit 8 and 9 offering 351.9 sq.m. (3,787 sq.ft) and 194.4 sq.m. (2,068 sq.ft) respectively. Unit 18 which is let extends to approximately 124.1 sq.m. (1,333 sq.ft).
Terms
TENURE - The whole site of approx. 1.84 acres includes an area of approx. .38 acres, not included in the subjects of sale, which is currently being used as container storage.
The whole site is held under a 99 year ground lease from Moray Council expiring 17 April 2118 at a total ground rent of £18,965 p.a. We estimate that the ground rent attributable to the area to be sold will be £15,048 p.a. The rent will be subject to rent review as at 1 December 2023 and 5 yearly thereafter, throughout the term of the ground lease. Full details will be provided on application.
LOCAL AUTHORITY RATES - We understand, Chanonry Court is yet to be included within the Valuation Roll and will remain so until the units are let. The purchaser will not therefore incur rates on vacant units until they are let. Once let with the exception of units 8 & 9, the units will fall below the threshold for the payment of Local Authority Rates.
EPC - Due to the nature of the construction of the industrial building, the building is one of low energy demand and as such is exempt from the requirements of an Energy Performance Certificate. Interested parties are advised to confirm this with Local Building Control.
PRICE - My client is seeking £1,650,000 + VAT for the benefit of their ground leasehold interest in Chanonry Court.
ANTI-MONEY LAUNDERING PROCEDURES - In accordance with both HMRC and RICS Guidance, we, as property agents are obliged to undertake AML due diligence on both our client and any counter party to a transaction. Accordingly, personal and or detailed financial and corporate information will be required prior to any transaction concluding.
VAT - VAT will be payable at the prevailing rate in addition to the purchase price.
Specification
- Concrete block construction
- Lo-pitch roof panels
- Larch vertical cladding to various units
- Single phase power
- Manually operated roller shutter door providing approx. 4.0m access
- Disabled W.C facility
- 42 car parking spaces
- Bitmac surfaced yard