Page 28 - Shepherd Commercial Auctions - Catalogue 07/09/2023

Lot 22 51 Victoria Road, Aberdeen, AB11 9LS Investment Opportunity
Features
• Passing Rent £9,000 p.a.
• Tenant - Audrey Nicoll MSP
• Lease Expiry 31/7/2026
• Short Distance from Aberdeen city centre
• Net Initial Yield (after allowing for purchasers costs) 16.29%
Description
The subjects comprise the ground floor retail unit of a three storey and attic traditional tenement building, beneath a pitched and slated roof.
Accommodation
The subjects benefit from display windows to Victoria Road and Sinclair Road. Access is via an aluminium and glazed pedestrian doorway. Internally, the subjects are divided to form an open office/reception/sales area, private offices, a waiting area, kitchenette and WC.
The floors throughout are of suspended timber design, The walls are of plasterboard design, either painted or papered, whilst the ceilings are a mixture of plasterboard and suspended acoustic tile design..
NIA 79.83 sq. m. (859 sq. ft.).
Location
The subjects are situated on the east side of Victoria Road, at its junction with Sinclair Road, within the suburb of Torry. Torry lies just south of the River Dee, a short distance south of Aberdeen city centre and the harbour area.
Victoria Road is the main thoroughfare through the Torry area of Aberdeen, and this part of Victoria Road serves as the primary retailing area for the locality with a mixture of local retailers.
The area is mixed in nature with retail typically occupying the ground floor of traditional tenement buildings with residential accommodation on the upper levels.
Energy Performance Rating The property has a current energy rating of G
*Guide Price £52,500 (plus fees if applicable)
28 * Please see Buyer’s Terms for definition of guide price and auction fees
Tenancy
The subjects are currently let to Audrey Nicoll MSP at a rental of £9,000pa which commenced on the 8/9/2021 with a lease expiry of 31/7/2026.
The tenant is permitted to terminate the lease early if no longer a MSP with the lease terminating 3 months after they cease to be a MSP with no less than 2 month’s notice.
Full lease details are available within the legal pack
Auction Type
Unconditional Sale - The buyers fee is 1.8% inc VAT(1.5% plus VAT) subject to a minimum of £1,800 inc VAT (£1,500 plus VAT).