Heritable office investment and redevelopment opportunity (subject to planning)
Prominent town centre location opposite Kingsgate Shopping Centre and overlooking the High Street
Well let first floor with active management opportunities
Second floor residential redevelopment opportunity (planning consent and building warrant obtained)
Lot 40
Auction 24th September 2021
Rent £21,861 per Annum Exclusive
Status Withdrawn Prior
Price
Sector Office
Auction Venue Live Streamed Auction
Property Information
Location
Miles
17 miles north-west of Edinburgh
23 miles east of Stirling
49 miles east of Glasgow
Roads
M90, A985, A823(M)
Rail
Dunfermline Railway Station
(35 minutes to Edinburgh Haymarket)
Air
Edinburgh International Airport (8 miles south)
Situation
The subjects are 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
Tenure
Heritable.
Location
Miles
17 miles north-west of Edinburgh
23 miles east of Stirling
49 miles east of Glasgow
Roads
M90, A985, A823(M)
Rail
Dunfermline Railway Station
(35 minutes to Edinburgh Haymarket)
Air
Edinburgh International Airport (8 miles south)
Situation
The subjects are 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
Tenure
Heritable.
Description
The subjects comprise the first and second floors of a larger building. 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.
VAT
VAT is applicable to this lot.
Viewings
Please contact Mhairi Archibald
EPC
Various. Please see the legal pack for further information.
Description
The subjects comprise the first and second floors of a larger building. 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.
VAT
VAT is applicable to this lot.
Viewings
Please contact Mhairi Archibald
EPC
Various. Please see the legal pack for further information.
Tenancy & Accommodation
Floor
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
First Floor
146.01 sq m
(1,571 sq ft)
SPECSAVERS OPTICAL SUPERSTORES LTD
10 years from 24/08/2015 to 23/08/2025
£2,826.38
First Floor
228.92 sq m
(2,646 sq ft)
FEDCAP EMPLOYMENT SCOTLAND LIMITED
5 years from 03/07/2015 to 02/07/2020 (1)
£19,035
Second Floor
494.75 sq m
(5,110 sq ft)
Please see note (2) below
£21,861.38
(1)The Lease was assigned to Fedcap Employment Scotland Limited from Working Links Employment Ltd (In Administration). The lease is currently running on tacit relocation and is subject to a rolling mutual break option, terminable by either party on not less than 3 months prior notice. Tenant has no liability for dilapidations or for alterations relating to the period prior to 1 March 2019 and a limited repair and dilapidations obligation which is subject to a photographic schedule of condition. There is a service charge cap of £2000 per annum exc VAT relating to any costs applicable to the lift. Please see the legal pack for further information. (2) There is a rates saving arrangement in place. Please see the legal pack for further information.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
