- Excellent Covenant – Shelter
- Passing rent £20,000 per annum
- Recently refitted by the tenant
- Offers in the region of £195,000
- NIY 9.99%
LOCATION
The property is located on the corner of Crown Street and Crown Terrace, a short distance to the south of Union Street, Aberdeen’s principle commercial thoroughfare. Nearby occupiers include Ramsay World Travel, O’Malleys Irish Bar and Cafe Boheme.
DESCRIPTION
The subjects comprise the ground floor and basement of a four storey and basement building of granite construction with a pitched and slated roof. The upper floors of the building are in residential use. The property has secondary glazed windows, gas central heating and an alarm system. A shared lift provides access to the basement and the building is Category B Listed.
Internally the ground floor comprises a reception area, open plan office, two private meeting rooms two wcs and staff area. Storage is provided at basement level.
FLOOR AREAS
The subjects provide the following net internal floor areas, measured in accordance with the RICS Code of Measuring Practice (Sixth Edition)
Ground Floor 129.91 sq m (1,398 sq ft)
Basement 129.65 sq m (1,395 sq ft)
Total 259.56 sq m (2,793 sq ft)
LEASE TERMS
The property is leased on Full Repairing and Insuring terms to Shelter, The National Campaign for Homeless People Ltd until 12th August 2031. The lease is subject to a rent review on 13th August 2026. The basis of the rent review is to open market value however any increase is to be capped at maximum of 12.5% of the initial rent. The passing rent is £20,000 per annum. A copy of the lease is available on request.
PRICE
Offers in the region of £195,000 are invited for our clients heritable interest in the subjects reflecting a Net Initial Yield of 9.99% after deduction of standard purchasers costs.
TENURE
Heritable
RATING ASSESSMENT
The valuation role shows a proposed rateable value of £13,750 with effect from 1st April 2026.
The Uniform Business Rate for the year 2026/2027 is 48.1p in the £. Water and waste water rates are also payable.
ENERGY PERFORMANCE CERTIFICATE
The property has an EPC rating of TBC.
Full documentation is available upon request.
VAT
Any price quoted is exclusive of VAT which may be applicable.
ENTRY
On conclusion of all legalities
CLOSING DATE
Whilst a closing date may not necessarily be set all interested parties are advised to note their interest in writing with the sole agents.
ANTI-MONEY LAUNDERING
In accordance with AML regulations, any purchaser or tenant will be required to provide proof of identity, address and source of funds once an offer is accepted.
OFFERS / VIEWING
All offers should be submitted in writing to the sole agents who will also make arrangements to view.