An opportunity is afforded to acquire a well located West End investment, comprising an attractive building with excellent parking ratios. The property offers a long term income stream, with the potential for alternative uses in the future.
The subjects comprise the ground, first and attic levels of a two storey attic and lower ground floor building. The property is situated within a large site which is accessible from both Queens Road and Queens Lane North. The subjects comprise a detached building of traditional granite and slate construction with timber sash and case windows.
Internally, the subjects provide attractively finished accommodation over ground, first and attic floors. A reception is provided together with reception areas, 8 surgeries, together with toilets, staff areas and ancillary accommodation.
Location
The subjects are located on the north side of Queens Road between its junctions with St Swithin Street and Forest Avenue within the heart of Aberdeen’s prestigious and sought after West End office district.
The subjects are readily accessible to Union Street, the city’s main retail and commercial thoroughfare.
Occupiers within the vicinity include CMS Cameron McKenna, Pinsent Masons and HSBC. The Dutch Mill can also be found within the vicinity.
Accommodation
The subjects provide the following accommodation:-
Ground Floor - 89.19 sq m (960 sq ft)
First Floor - Offices - 82.78 sq m (891 sq ft)
Attic Floor - Offices - 36.51 sq m (393 sq ft)
Total - 208.48 sq m (2,244 sq ft)
The abovementioned floor areas have been calculated on an IPMS 3 – Office basis in accordance with the RICS Property Measurement 1st Edition as prepared by the RICS.
The subjects benefit from a gravel covered car park to the front which is shared with the lower ground floor with the property benefiting from a further 11 parking spaces to the rear.
Terms
Offers of £780,000 are sought for our client’s heritable interest in the subjects.
A purchase price at this level reflects a net initial yield of 7.8% after allowing for purchasers costs including LBTT.
Specification
- £64,000 per annum
- 12 years unexpired
- Price £780,000 (7.8% NIY)