Mixed residential and commercial investment opportunity in St Andrews for sale

Offering a rare opportunity to acquire prominent town centre premises in St Andrews with potential for development or conversion, substantial mid terraced two storey and attic building comprises a four-bedroom HMO residential property and two commercial properties, with courtyard.

The university town of St Andrews is situated on the northeast coast of Fife 15 miles south of Dundee, 35 miles east of Perth and 50 miles northeast of Edinburgh. Known throughout the world as the home of golf, it is an important historic town which ensures a healthy flow of tourists all year long.

The premises are located within the heart of the town, accessed off South Street via a communal pend. They date from the early 18th century and were subject to renovation in 1964. The building is Category ‘B’ Listed and is situated within a Conservation Area.

A residential dwelling occupies the ground, first and second floor of the east most part of the building and extends over the commercial units at ground and first floor. The courtyard provides a pleasant external seating area for the ground floor café, extending the number of covers.

The residential property benefits from an HMO license allowing multiple occupancy and while presently vacant, there is potential for income in excess of £30,000 per annum. The license agreement expires in April and is in the process of renewal.

The ground floor café is let to Jarvie’s of St Andrews at £10,800 per annum until 2028. The first floor is let at £9,000per annum and continues by way of tacit relocation.

Jonathan Reid, partner at Shepherd, said:

“This mixed residential and commercial investment opportunity represents a rare chance to acquire prominent town centre premises in St Andrews and, as such, we anticipate keen interest in these premises.”

Offers in excess of £1,000,000 are invited. Interested parties should contact the sole selling agent on tel 01382 878005.

ENDS

For further information please contact Jonathan Reid on 01382 878005.