The subjects comprise a standalone office building of bungalow style, which appears to be of prefab construction with improved roughcast external skin. The roof is pitched and tiled and we estimate the building to be circa 50 years old.
There is abundant car parking surrounding the building in addition to a surfaced yard.
Internally the building provides offices accommodation being predominantly open plan but also including some private office space, boardroom and ancillary facilities sub-divided predominantly by timber stud partitioning
( Agency Pilot Software ref: 52640 )
Location
The subjects are located in north Perthshire on the A94. The village of Burrelton lies approximately 0.5 mile to the north whilst the town of Coupar Angus lies approximately 2 miles distant the City of Perth, some 11 or so miles to the south. Burrelton is a mainly agricultural community with limited commercial facilities and amenities available in the immediate area. The subjects are bounded the front by the A94 and additional land and buildings held in separate ownership and on both sides and to the rear. The surrounding road network is likely to benefit from the Cross Tay Link Road (CTLR), a major engineering project linking Perth West to the A94. This is likely to improve traffic/ accessibility and transportation in the surrounding area. This project is we understand due for completion in the next 18 months.
Accommodation
209.0 SQ.M. (2,249 SQ.FT.)
Terms
TENANCY The subjects will be let to Greenvale AP Limited (Company Number 03163230) at an annual rent of £20,000 per annum. The lease agreement will be for a 10 year term at a passing rent of £20,000 per annum. The lease will not be subjects to any break options and a rent review at year 5. The review will be upwards only to Open Market Value. Greenvale AP Limited represent a strong tenant covenant with a Dun & Bradstreet Rating of 4A 2)
RATEABLE VALUE The subjects have a Net and Rateable Value of £13,500. The unified business rate for the year 2023/2024 is 49.8p exclusive of water and sewerage rates.
PRICE Offers in the region of £200,000 are invited for the heritable title, subject to the lease agreement. A purchase at this level represents a NIY of 9.80%.
EPC Available upon request.
LEGAL COSTS + VAT Each party to bear their own legal costs associated with this transaction. For the avoidance of doubt, all figures are quoted exclusive of VAT The subjects have been elected for VAT. It is anticipated that the sale of the property will be treated as a Transfer Of A Going Concern (TOGC) and therefore no VAT will be payable. Interested parties are encouraged to make their own enquiries in this regard.
Specification
• Income producing office building
• Let to Greenvale Ap Limited (D&B Rating 4A 2)
• 10 Years term certain *sale and leaseback
• Passing rent £20,000 per annum
• Offers over £200,000
• NIY 9.80%