Retail Property (high street) for sale

Retail Investment, Albert Street, Fraserburgh AB43 9JL

£1,300,000
7,449 sq. ft.

Property Description

Commercial information

  • 7,449 sq ft (692 sq m)

Key features

  • 7 year unexpired term (no breaks)
  • High quality retail unit situated in prominent location within town centre
  • Let to Co-operative Food Group who are an established tenant
  • Offers in the region of 1,300,000 are invited
  • NIA: 692 sq.m / 7,449 sq.ft or thereby

Full description

Offers in the region of £1,300,000 are invited

Fraserburgh is strategically located on the far North Eastern corner of Scotland, approximately 40 miles North of Aberdeen. The town itself is the largest settlement in Aberdeen-shire, with a population of circa 13,000. The economy of Fraserburgh is focused primarily on the large fishing industry due to it being the third largest shellfish port in Scotland.

The subjects are located close to Watermill Road, the main thoroughfare for the town. Surrounding occupiers are mainly residential.

The property comprises a detached single storey supermarket store of steel portal frame construction clad in profile metal sheet walls with a shallow pitched profile metal sheet roof.

Internally the subject property comprises open plan retail space, together with ancillary storage, an office and staff welfare facilities. The property benefits from generous car parking facilities, with circa 40 spaces.

There is an external cash machine which is also let to the Co-operative Food Group.

The subjects benefit from Class 1 (Retail) consent and are attractively fitted and finished for the current purpose as a retail unit occupied by the Co-operative Food Group.

Tenancy: The property is let to The Co-Operative Food Group until 1st October 2027 (approximately 7 years unexpired lease term), without breaks. An investor would benefit from an income of £101,305.91 per annum (£146.39 per sq m / £13.59 per sq ft). There is an RPI linked Rent Review on the 1st of October 2022, subject to a 1% collar and 4% cap compounded annually.

Proposal: We are instructed to seek offers in the region of £1,300,000 (One million, Three Hundred Thousand Pounds), subject to contact, reflecting a net initial yield of 7.35% allowing for purchaser costs and LBTT, and a capital value of £174.52 per sq ft.

Fraserburgh is strategically located on the far north eastern corner of Scotland, approximately 40 miles north of Aberdeen. The town itself is the largest settlement in Aberdeen-shire, with a population of circa 13,000. The economy of Fraserburgh is focused primarily on the large fishing industry due to it being the third largest shellfish port in Scotland.

The subjects are located in a back lying position from Watermill Road, the main thoroughfare for the town. Surrounding occupiers are mainly residential.


Applicable


More information from this agent

Nearest station

  • Inverurie (31.2 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Graham & Sibbald, Inverness

4 Ardross Street, Inverness, IV3 5NN

01463 568040 Local call rate

How much will it cost me to call the number displayed on the site?

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Map & Street View

Nearest station

  • Inverurie (31.2 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Graham & Sibbald, Inverness

4 Ardross Street, Inverness, IV3 5NN

01463 568040 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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