Prominent and Recently Refurbished Multi Let Office Investment
Prominent location in West End of Aberdeen city centre
Recently Refurbished Multi let Office Investment
Recent Landlord Investment of over £250,000
Contemporary Office Space totalling 1,081.19 sq. m. (11,638 sq. ft.) with 24 Car parking Spaces to Front and Rear of the Property
Neighbouring occupiers include Virgin Money, The Royal Bank of Scotland, Bank of Scotland, Azets, Shepherd and Wedderburn and Stronachs Solicitors
Lot 25
Auction 25th September 2024
Rent £198,730 per Annum Exclusive
Status Available
Guide* £1,650,000
Sector Office
Auction Venue Live Streamed Auction
Property Information
Location
Miles
67 miles north of Dundee
Roads
A90, A96
Rail
Aberdeen (2 hours 25 minutes to Edinburgh Waverley)
Air
Aberdeen Airport (6 miles west)
Situation
Aberdeen is Scotland’s third largest city with a population of approximately 220,000 and a regional catchment population of over 500,000. Its status as the Energy Capital of Europe has been established for over 40 years with renewable energy onshore/offshore being the new focus for the city.
Situated within the heart of Aberdeen’s West End, the property is prominently located at the eastern end of Albyn Terrace at the corner of Prince Arthur Street. The property is set back from Albyn Place, one of the city’s main arterial routes west. Union Street, the city’s main retail thoroughfare is approximately 400m east of the property and the City’s train and bus stations are within 20 minutes walking distance. Neighbouring occupiers include Royal Bank of Scotland, Bank of Scotland, Johnston Carmichael, Shepherd & Wedderburn LLP, Stronachs LLP, Global E&C and Genisis Energies.
Tenure
Heritable.
Location
Miles
67 miles north of Dundee
Roads
A90, A96
Rail
Aberdeen (2 hours 25 minutes to Edinburgh Waverley)
Air
Aberdeen Airport (6 miles west)
Situation
Aberdeen is Scotland’s third largest city with a population of approximately 220,000 and a regional catchment population of over 500,000. Its status as the Energy Capital of Europe has been established for over 40 years with renewable energy onshore/offshore being the new focus for the city.
Situated within the heart of Aberdeen’s West End, the property is prominently located at the eastern end of Albyn Terrace at the corner of Prince Arthur Street. The property is set back from Albyn Place, one of the city’s main arterial routes west. Union Street, the city’s main retail thoroughfare is approximately 400m east of the property and the City’s train and bus stations are within 20 minutes walking distance. Neighbouring occupiers include Royal Bank of Scotland, Bank of Scotland, Johnston Carmichael, Shepherd & Wedderburn LLP, Stronachs LLP, Global E&C and Genisis Energies.
Tenure
Heritable.
Description
The premises comprise an architecturally attractive Category B Listed building of granite and slate construction, together with a secure private car park and garages accessed via lane at the rear. The building is made up of three interlinked terraced buildings with accommodation arranged over four floors – lower ground, ground, first and second.
The building largely offers open plan modern contemporary suites. There are toilet and kitchen facilities on all floors. The building has multiple access points on Albyn Terrace, Prince Arthur Street and rear, which provides some occupiers with an exclusive entrance. The landlord has recently invested approximately £250,000 into the property including roof repairs, two new boilers and redecoration of the common areas.
VAT
VAT is applicable to this lot.
EPC
The overall building EPC is E65.
Please see the legal pack for further information
Description
The premises comprise an architecturally attractive Category B Listed building of granite and slate construction, together with a secure private car park and garages accessed via lane at the rear. The building is made up of three interlinked terraced buildings with accommodation arranged over four floors – lower ground, ground, first and second.
The building largely offers open plan modern contemporary suites. There are toilet and kitchen facilities on all floors. The building has multiple access points on Albyn Terrace, Prince Arthur Street and rear, which provides some occupiers with an exclusive entrance. The landlord has recently invested approximately £250,000 into the property including roof repairs, two new boilers and redecoration of the common areas.
VAT
VAT is applicable to this lot.
EPC
The overall building EPC is E65.
Please see the legal pack for further information
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Rent Review
Ground
Office
309.74
(3,334)
HANDELSBANKEN PLC
10 years 16/06/2023 (1)
£63,346
16/06/2028
First
Office
305.37
(3,287)
ANCALA MIDSTREAM ACQUISITIONS LTD
10 years from 12/02/2024 (2)
£70,000
12/02/2029
Second
Office
253.25
(2,726)
PRISM ENERGY
3 years from 28/02/2024 (3)
£24,534
Lower Ground
Office
91.32
(983)
PATTERSON HEALTHCARE LIMITED
10 years from 01/04/2024 (4)
£14,850
01/04/2029
Lower Ground
Office
43.01
(463)
I-LEANER'S HUB LIMITED
1 year from 15/08/2024
£6,000
Lower Ground
Office
34.84
(375)
RUBISLAW RELOCATIONS
3 years from 28/06/2019 (holding over)
£6,000
Lower Ground
Office
43.66
(470)
NURSING CO-OPERATIVE
10 years from 29/11/2023 (5)
£11,000
29/11/2028
Garage 1-3
Garage
-
-
RYDEN
Rolling Monthly Licence
£3,000
Garage 4-8
Garage
-
-
VACANT POSSESSION
Total
1,081.18
(11,638)
£198,730
(1) The lease provides for a tenants option to determine the lease on 16/06/2028. (2) The lease provides for a tenants option to determine the lease on 12/02/2029. (3) The lease provides for a tenants option to determine the lease on 28/02/2026. (4) The lease provides for a tenants option to determine the lease on 01/04/2029. (5) The lease provides for a tenants option to determine the lease on 29/11/2028.
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.
