Tenanted Commercial LOT 62

14 Errol Street, Peterhead, AB42 1PX
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Description

  • Status: Available
  • Type: Commercial
  • Ownership: Freehold
  • Occupation: Tenanted

Ground Floor 4,290sq ft Original Factory Shop Held on F.R.I Lease with Passing Rent: £25,000p.a.x. Expiry 23rd August 2033. Prominent Established Trading Locale Opposite Car Park

The property is held on full repairing and insuring head lease on the following terms; Tenant: The Original Factory Shop Expiry: 23rd August 2033 Passing Rent: £25,000p.a.x.

The property extends to the following internal area; Ground: 398.5sqm (4,290sq ft)

The property is situated on the north side of Erroll Street close to its junction with Marischal Street and Love Lane within the town of Peterhead.

Peterhead is located approximately 32 miles north of Aberdeen on the A92 linking through to Fraserburgh.

The property comprises the ground floor of a larger 2 storey modern development surmounted by a pitched roof. The space offers a substantial frontage with multiple display windows and double door entrance at the easternmost side of the development. Internally the property is lit by way of fluorescent strips and halogen spots recessed within the suspended acoustic tile ceiling with floors being overlaid with ceramic tile. Partitions have been erected to form storage area, male and female w.c. facilities, staff tea prep and office. The property extends to the following internal area; Ground: 398.5sqm (4,290sq ft) The property is held on full repairing and insuring head lease on the following terms; Tenant: The Original Factory Shop Expiry: 23rd August 2033 Passing Rent: £25,000p.a.x. Review & Break: 24th August 2028

The property is situated on the north side of Erroll Street close to its junction with Marischal Street and Love Lane within the town of Peterhead. Peterhead is located approximately 32 miles north of Aberdeen on the A92 linking through to Fraserburgh. The town has a resident population of circa 24,000 persons and enjoys a strong catchment given the drive time to Aberdeen. Traditionally focused on the fishing industry, Peterhead acts as a major service centre for the fishing, oil and gas industry.

Full Address: 14 Errol Street, Peterhead, AB42 1PX

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 2033
Rent: £25,000 per year / £2,083 per month
Yield: 13% (approx)
Tenant: Company
Notes: The property is held on full repairing and insuring head lease on the following terms; Tenant: The Original Factory Shop Expiry: 23rd August 2033 Passing Rent: £25,000p.a.x. Review & Break: 24th August 2028

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Pricing Information & Bidding

Opening Bid: £187,000

What is an Opening Bid? This property is entered into an online auction where the bidding will start or open at the above price. Unless specified all properties are subject to a Reserve (minimum acceptable price).

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SPECIAL Terms of Sale

  • 10% Deposit
  • Buyers Fee = 3% of Sale Price (Minimum £3,250 + vat)
  • 4 Weeks Completion or Longer By Agreement
  • Contribution to Sellers Costs £1,750 for on time settlement

VIEW THE GENERAL TERMS OF SALE which are superseded by any special conditions detailed above.

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Buy Now Price = £220,000

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Auction Details

Date & Time: 16 May 2024, 10am-3pm
Type: Timed Online Auction

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