Lot 2

Guide Price: £109,000 - Bid Now

50-54 Main Street, Alford, AB33 8PX


Key Features:

PRIME COMMERCIAL INVESTMENT let to 'National Westminster Bank plc' Until June 2026 (no breaks) Rent payable will be £8,063 p.a till Jun 2020 then rent review. ***VAT FREE PROPERTY.*** Rent Review 2020. Close to TSB bank and Pharamcy. Aberdeen 26 miles.


  • The property is at present let to NATIONAL WESTMINSTER BANK PLC for a term of approximately 21 years from 9th June 2005 until 23rd June 2026 seller will top rent up to £8,063 per annum till 2020 rent review. The lease provides for rent reviews every 5th year of the term and contains full repairing and insuring covenants (TENANT PAYS FOR RATES INSURANCE AND DILAPS LIKELY AT EXPIRY).
  • Occupiers close by include The Post Office, TSB Bank and a range of local traders excellent sized building Ground floor only to provide a former banking hall. Circa 900 square feet. National Westminster Bank plc is a wholly owned subsidiary of Royal Bank of Scotland plc who have a market capitalisation rate of £43bn and are 81% owned by HM Government. (Source: www.natwest.com & www.rbs.com). 100% GRADE A TENANT.
  • Rent payable quarterly in advance by RBS 25th March, 24th June, 29 September 25 December. Benefit of a VAT FREE PROPERTY - no vat on price. Secure long term income guaranteed until 2026 (NO TENANT BREAK OPTION FOR RBS UNTIL JUNE 2026 EXPIRY).
  • NEW INVESTMENT ALERT - Let RBS Bank

Description:

RARE BANK INVESTMENT long lease till 2026 no tenant break option. SECURE LONG TERM INCOME. ***ATTRACTIVE GLAZED FRONTAGE.*** Given the popular market town location long term potential for residential use /or take-away restaurant use (subject relevant consents). Alford is popular and above medium residential values are derived. PRIME COMMERCIAL INVESTMENT let to 'National Westminster Bank plc' Until June 2026 (no breaks) Rent payable will be £8,063 p.a till Jun 2020 then rent review. ***VAT FREE PROPERTY.*** Rent Review 2020. Close to TSB bank and Pharamcy. The property is at present let to NATIONAL WESTMINSTER BANK PLC for a term of approximately 21 years from 9th June 2005 until 23rd June 2026 seller will top rent up to £8,063 per annum till 2020 rent review. The lease provides for rent reviews every 5th year of the term and contains full repairing and insuring covenants (TENANT PAYS FOR RATES INSURANCE AND DILAPS LIKELY AT EXPIRY). Aberdeen 26 miles. Occupiers close by include The Post Office, TSB Bank and a range of local traders excellent sized building Ground floor only to provide a former banking hall. Circa 900 square feet. Tenant Information - Website Address: www.natwest.com. National Westminster Bank is a wholly owned subsidiary of Royal Bank of Scotland who have a market capitalisation rate of £43bn and are 81% owned by HM Government. (Source: www.natwest.com & www.rbs.com).

Location:


100% PRIME location in Alford. The town of Alford is situated approximately 26 miles north-west of Aberdeen, via the A96 which is 12 miles west of the property. The property is located on the south side of Main Street (A944), opposite its junction with Watchmaker’s Lane, on the town’s main retail thoroughfare. Occupiers close by include The Post Office, TSB Bank and a range of local traders in a predominantly residential area. IDEAL LONG TERM DEVELOPMENT POTENTIAL.

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 2026
Rent £8,063 per year / £672 per month
Yield 7.4% (at guide price)
Tenant Company
Notes: no vat on price. Secure long term income guaranteed until 2026 (NO TENANT BREAK OPTION FOR RBS UNTIL JUNE 2026 EXPIRY).

Guide Price: £109,000 - 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:

    01 May 2018


  • 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.