Lot 237 - 119-121, Shore Street, Fraserburgh, Aberdeenshire, AB43 9BR

  • Unconditional Online Auction Sale
  • Guide Price* : £180,000

Ideal opportunity for the investor to purchase this three storey and attic office block In Shore Street with the majority already let out to long term tenants.

Description

• Prime Investment
• Freehold
• Long term tenants
• Income straight away

119-121 Shore Street Fraserburgh is a detached, three storey and attic building with a two storey extension to the side. Internally the property is laid out to provide a variety of open plan and cellular office accommodation spread over three floors.

On the ground level there are two separate accessed office areas one currently leased out the other vacant as well as the yard/workshop/storage area which is also leased out. On the first floor there are three offices all leased out with the third floor having a further six offices of which three of them are leased out. Lastly there is a third floor/attic that is currently being used as a storage room. Lease income £17,800 per annum (with potential to rise to £21,400) – information detailed below:

Ground floor (1,449 sq. ft.) Office – leased to Premier Refrigeration at £4,000 per annum (payable six monthly) have just renewed at the beginning of October for another 12 months plus contribution of 10% of the total gas and electric costs which is charged monthly Yard/workshop/storage – leased to Premier Refrigeration at £3,600 per annum (payable six monthly) lease to be renewed in April ‘22 for another 12 months.

Office – currently vacant First floor (1,249 sq. ft.). Office – leased to Business Development Advice Ltd at £4,200 per annum (payable monthly) until 30th June 2022 plus £48 per month insurance payment contribution.

Two offices – leased to M3W Wealth Ltd at £6,000 per annum (payable monthly) until 5th April 2022 plus contribution at 60% of the total gas and electric costs – the lessee has indicated a willingness to extend the lease Second Floor (1,358 sq. ft.) Two offices – leased to M3W Wealth Ltd refer to the lease terms/income above Office – leased to Business Development Advice Ltd refer to lease terms/income above Three offices – currently vacant with one office under offer at £3,600 per annum. Attic (887 sq. ft.) - currently vacant.

Located close to the town centre and overlooks the main harbour and is well within walking distance of other business’s and shops. All of the offices are accessed off Shore Street with the building having rear fire exits onto the lane. To the front of the property there is ample on-street parking that is on a first come first served basis. Throughout the majority of the property is gas central heating to individual radiators. The whole of the property is connected to mains water and electricity.

**PLEASE NOTE: As per the T&C's, an Auction Fee and 10% Deposit is due to be paid when your bid is successful.**

Tenure

Freehold

Location

The property is located in the town of Fraserburgh the major fishing port in the North East corner of Aberdeenshire. It is the biggest shellfish port in Scotland as well as one of the largest in Europe and runs a busy commercial harbour. Fraserburgh lies approx. 40 miles North of Aberdeen and 17 miles North of Peterhead.

Local Authority
Aberdeenshire Council

* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Available at:

£180,000


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Local Authority

Aberdeenshire Council

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