Page 23 - Shepherd Commercial Auctions - Catalogue 07/09/2023

Lot 17 12 South Mount Street, Aberdeen, Aberdeenshire AB25 2TB Retail Investment
Features
• Popular retailing accommodation
• Asset management/refurbishment potential • Passing rental £8,000 per annum
• Lease expiry 1st August 2024
• 70.45 sq. m. (759 sq. ft.)
Accommodation
The subject property comprises an end terraced ground floor basement and retail unit of granite and slate construction. The subject benefit from a large return frontage with signage facia above.
The accommodation is split to form retail space on ground floor with a timber stair to the rear leading to the basement storage area. The floor is of suspended timber design with vinyl covering and the majority of the walls are lined with timber panels. Lighting is provided by fluorescent stip lighting. At basement level, the floor consists of a solid concrete floor whilst the walls and ceiling are lined with timber panels and painted.
Location
The subjects are located on the east side of South Mount Street at its junction with Kintore Place within the Rosemount area of Aberdeen, a short distance south of the popular Rosemount Place. In addition, the subjects are in relatively close proximity to Aberdeen City Centre.
The surrounding occupiers are predominantly residential in nature although there are a small number of similar commercial units within the immediate vicinity
Tenancy
The subjects are currently leased to Morning Noon and Night on Full Repairing and Insuring terms subject to a schedule of condition expiring 1st August 2024 at a passing rental of £8,000 per annum. Morning Noon and Night Limited was incorporated on March 1990. The immediate parent undertaking is Morning Noon & Night Holdings Limited, a company registered in Scotland. The ultimate parent undertaking is Scottish Midland Co- operative Society Limited, which is registered in Scotland. The tenant is not currently in occupation of the premises.
Further information is available within the legal pack.
*Guide Price £73,000 (plus fees if applicable)
* Please see Buyer’s Terms for definition of guide price and auction fees
Energy Performance Rating To be confirmed.
Rateable Value
The subjects are currently entered into the Valuation Roll at a Rateable Value of £5,700 as at 1st April 2023.
Auction Type
Unconditional Sale - The buyers fee is 2.4% inc VAT(2% plus VAT) subject to a minimum of £2,400 inc VAT(£2,000 plus VAT).
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