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 £XXXp.a.
Planning Consent Obtained
9,542sq ft
Price: £XXX
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: £XXXp.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: £XXXp.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 £XXX
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.