The subjects comprise separated retail and office units on the ground floor of a four storey granite building. The three upper floors have been converted to residential accommodation
( Agency Pilot Software ref: 4289 )
Location
The subjects are situated at the west end of Union Street, Aberdeen’s main commercial thoroughfare. There are a number of prominent office buildings in close vicinity to the subjects, including Silver Fin, The Capitol Building, IQ and Union Plaza. Surrounding occupiers include: Shell UK, PWC, RSM, Orega, Xodus, Spirit Energy, COSL, ASPC, Aberdein Considine, Tesco, Sainsburys, Nuffield Health, Park Inn and a variety of hospitality venues.
Accommodation
Ground 478 Union St 187.57sq m ( 2,019 sq ft )
484 Union St 79.06 sq m (851sq ft )
Total 266.63 sq m (2,870sq ft )
Terms
ENERGY PERFORMANCE CERTIFICATE (EPC) A copy of the EPCs are available upon request.
PROPOSAL Offers over £375,000 excluding VAT are sought for our client’s heritable interest in the building. A purchase at this level would show an attractive net initial yield of 12.29% after deduction of purchaser’s costs and LBTT.
VAT The property has been elected for VAT and it is anticipated the sale will be treated as a Transfer of a Going Concern.
ANTI-MONEY LAUNDERING REGULATIONS To comply with the current anti-money laundering regulations the agents acting on both sides of any qualifying transaction are required to undertake appropriate due diligence in advance of the transaction, including identifying and verifying all relevant parties and establishing the source(s) and legitimacy of funding. Both parties will be required to disclose all relevant information prior to conclusion of missives required to enable the agents to meet their respective obligations under the Regulations.
Specification
- Passing rent of £47,800 per annum
- WAULT of 3.50 years to expiries
- Offers over £375,000, exclusive of VAT
- Attractive net initial yield of 12.29%