Lot 1e

Guide Price: £155,000 - Bid Now

10-12 New Row, Reubens, Dunfermline, KY12 7EF


Key Features:

Double Let Commercial Investment with extensive frontage on busy Dunfermline Locale. 10 Year FRI Lease at £16,000pa until 2025. Next rent review due 2021. Proximity to the junction of East Port and High St with neighbouring occupiers including Marks and Spencer, Costa Coffee, The Shoe Zone and Primark.


  • Lease runs from 16-11-15 until 16-11-2025. Rent review 21-8-2021. Let to a private individual trading as 'Reubens' which is a well reviewed and highly acclaimed restaurant and icro-brewery within Dunfermline.
  • Large open plan double fronted commercial unit encompassing 2 x units. Extensive glass frontage with large signage to the front elevation.
  • The property has been extensively refurbished by the tenant including redecoration, reconditioned hardwood flooring, modern lighting and heating.
  • Let Investment £16,000pa 10 Year FRI - VAT FREE INVESTMENT (no vat payable on purchase price or chargeable on rent)

Description:

Let Commercial Investment with extensive frontage on busy Dunfermline Locale. 10 Year FRI Lease at £16,000pa until 2025. Next rent review due 2021. (no vat payable on purchase price or chargeable on rent) Lease runs from 16-11-15 until 16-11-2025. Rent review 21-8-2021. Let to a private individual trading as 'Reubens' which is a well reviewed and highly acclaimed restaurant and icro-brewery within Dunfermline. Large open plan double fronted commercial unit encompassing 2 x units. Extensive glass frontage with large signage to the front elevation. The property has been extensively refurbished by the tenant including redecoration, reconditioned hardwood flooring, modern lighting and heating. The property offers an excellent commercial investment with instant yield. Rateable value is £10,500pa. The subjects are in close proximity to the junction of East Port and High St with neighbouring occupiers including Marks and Spencer, Costa Coffee, The Shoe Zone and Primark. Dunfermline is situated in the bridgehead area of Fife just to the north of the Forth Road Bridge and soon to be completed Queensferry Crossing being one of the major centres of population within the Fife region. The property is situated in a popula commuter town for Edinburgh and immediately to the west of the M90 Edinburgh to Perth motorway. The city is also well served by the national rail network.

Location:


The subjects are in close proximity to the junction of East Port and High St with neighbouring occupiers including Marks and Spencer, Costa Coffee, The Shoe Zone and Primark. Dunfermline is situated in the bridgehead area of Fife just to the north of the Forth Road Bridge and soon to be completed Queensferry Crossing being one of the major centres of population within the Fife region. The property is situated in a popula commuter town for Edinburgh and immediately to the west of the M90 Edinburgh to Perth motorway. The city is also well served by the national rail network.

Rateable Value:


CLICK HERE to visit the Scottish Assessors Association Website & automatically search this property's postcode for values. The Scottish Assessors’ Portal provides details of Council Tax Bands and Rateable Values for all properties in Scotland.

Ownership & Occupation:


Ownership

Freehold

- Outright ownership of the property and land on which it stands.
Occupation

Tenanted

- Existing tenant in place with lease agreement to be assigned to the new purchaser at the time of completion.

Tenancy Details:


Type of Agreement Full Repairing & Insuring (FRI)
Length 10 Year
Rent £16,000 per year / £1,333 per month
Yield 10.3% (at guide price)
Tenant Private Individual
Notes: Lease runs from 16-11-15 until 16-11-2025. Rent review 21-8-2021.

Guide Price: £155,000 - Bid Now


Auction Guide Prices are displayed as an indication of each seller's approximate sale expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each 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 no more than 10% above or below the advertised guide price.

Bid Now Explained:


You may submit an offer now on any of our live properties for the sellers to consider. If they are will are willing to sell you the property now then it is a matter of making the required deposit payment to secure the purchase. Complete our ONLINE OFFER FORM now to put your offer forward to the sellers.











Internal Open Viewings:


This property may be open for internal viewings at specified times which will be listed on this page when available. You do not need to register to attend these viewings, you can simply turn up as the property will be open during the scheduled times. Our viewing agent will be present to answer any of your questions and provide auction catalogues to viewers.

External Viewings Anytime:


You may view this property externally at any time. Please make sure that if the property is occupied or tenanted that you respect the privacy of the occupants. Additionally we advise that you print a copy of this schedule and take it with you in case of any neighbours questioning you at the property as to your intentions.


















Offer Now:

You may submit an offer now on any of our live properties for the sellers to consider. If they are will are willing to sell you the property now then it is a matter of making the 10% deposit payment to secure the purchase. Complete our ONLINE OFFER FORM now to put your offer forward to the sellers.

Bid Live in Person:

Easily the best method is to attend the auction in person. The Glasgow Radisson is conveniently located in the Glasgow City Centre, a short walk from the Central Train Station and easily accessed from the M8 Motorway. The Edinburgh Marriott Hotel is conveniently located just minutes from Edinburgh Airport and the city centre.

Bid by Phone Live:

If you cant make the auction in person you can still make a live bid by telephone for this property. You will give instruction live over the phone with one of our staff in the room who will bid on your behalf and relay activity in the auction room. To register simply print off, complete and return the below form by email prior to 5pm of the auction day...

Proxy & Phone bidders phone... Download the Telephone Bidders Form

Bid by Proxy: (Ebay Style Highest Bid)

This is another option if you cannot make the auction in person. A Proxy bid is where you will leave your highest maximum bid for the property and the auctioneer will bid on your behalf. You will only ever bid one increment higher than the previous bidder. Proxy bidding rules out any potential issues with telephone reception or nerves regarding bidding in person or by telephone. To register simply print off, complete and return the below form by email prior to 5pm of the auction day...

Proxy & Phone bidders phone... Download the Proxy Bidders Form







  • Auction Date:

    24 October 2017


  • Start Time:

    7.00pm


  • Auction Location:

  • Glasgow Radisson Hotel

  • 301 Argyle Street, G2 8DL


Directions:


View a Map & Directions to the Auction Venue.
Glasgow Radisson | Edinburgh Marriott


Registration:

You will need to be at the auction prior to the 7.00pm start time in order to register & make your way to the auction room. Bidding registration opens from 6:00pm. You will be required to present Photo ID and provide your contact and solicitor details in order to register.

Legal Packs:

All legal packs will be available for inspection at our offices on the day of the auction and at the auction hall from 6:00pm.

Deposits:

If you are a successful purchaser of a lot then a deposit of 10% (minimum £3,000 or lower if specified) will be required. The deposit is accepted by the following methods:

Deposit Method:

Switch, Debit Card, Credit Card, Cash or Bankers Draft accepted only. Next Day Bank Transfer by prior arrangement only.