- Lease extended to 13th July 2031
- Passing rent £30,000 per annum
- Offers in the region of £250,000
- NIY 11.71%
LOCATION
The property is located on the corner of Dee Street and Academy Street, a short distance to the south of Union Street, Aberdeen’s principle commercial thoroughfare.
DESCRIPTION
The subjects comprise a substantial, detached, two storey and attic, stone built building with private parking for approximately 15 cars. The ground floor compromises reception area, waiting room, staffroom, staff wc , customer wc and two private treatment rooms. The first floor comprises the main salon area with further treatment room and the attic provides two storage rooms. The property benefits from gas central heating and is Category B Listed.
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 80.31 sq m (864 sq ft)
1st Floor 76.74 sq m (826 sq ft)
2nd Floor 21.34 sq m (229 sq ft)
Total 178.39 sq m (1,919 sq ft)
LEASE TERMS
The property has been leased on Full Repairing and Insuring terms to The House of Hair (Aberdeen) Ltd since 14th July 2021. The tenant personally guarantees the lease and the repairing obligations are restricted by way of a schedule of condition. A 5 year lease extension is in the process of being documented taking the lease expiry to 13th July 2031. The passing rent is £30,000 per annum and there are no further rent reviews.
PRICE
Offers in the region of £250,000 are invited for our clients heritable interest in the subjects reflecting a Net Initial Yield of 11.71% after deduction of standard purchasers costs.
TENURE
Heritable
RATING ASSESSMENT
The valuation role shows a rateable value of £17,000 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 E.
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.