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INVESTMENT FOR SALE / TO LET - FORMER TSB BANK, MID ST KEITH - GROUND FLOOR VACANT, 1ST FLOOR INCOME PRODUCING

For sale: POA|To rent: ROA|1518 Sq Ft|Retail, Offices, Office, Retail - High Street, Retail - Out of Town

PROPERTY DETAILS

FOR SALEPOA
TO RENTROA
SIZE1518 Sq Ft
ADDRESS151 Mid Street, Keith, Moray, AB55 5BJ
TYPERetail, Offices, Office, Retail - High Street, Retail - Out of Town
TENUREInvestment Opportunity, To Let, For Sale Freehold
POSTED ON16th July 2020

DESCRIPTION

Prominent Corner Position
Upper Floor Let To Accountancy Firm
Ground Floor Vacant
Rates Exempt
Ground Floor Available To Let
Full Building Available For Sale

Location

The property occupies a corner position on Mid Street. Mid Street is the primary retail pitch within the town and runs parallel to the A96 which loops around and meets Mid Street a short distance to the north. Commercial occupiers comprise primarily local retailers interspersed with some national occupiers including, Spar, The Post Office and Ladbrokes.

Keith is a small town in the Moray council area in the north east of Scotland. The town sits 17 miles south east of Elgin and 50 miles north west of Aberdeen and has a population of c.5,000 people. The A96 runs through Keith which connects it to Aberdeen and there is a train station within the town with services to Inverness and Aberdeen. The town is at the start of the Scottish Malt Whisky Trail and as such benefits from a regular tourist trade.



Property

The property comprises the ground and first floors of a 2 storey building of stone construction with single storey extension to the rear. The former bank demise forms part of the ground floor with the remainder of the ground floor and the upper floor currently leased to an accountancy firm.

The entrance to the vacant part of the subjects (151 Mid Street) is on the corner accessed via a recessed entrance with electric door. The former bank is arranged over ground floor only comprising a public area at the front with cash counter and clerical area to the right hand side. To the rear is a strong room, managers office, staffroom, storage and separate male and female toilet facilities.

The fire escape to the rear leads to a small courtyard which is currently used as a refuse storage area. 149 Mid Street is a self contained office with ground floor access leading to a reception area. A staircase leads to upper floor offices, staff area and toilets. This area is occupied by an accountancy firm.


Area

The property has been measured on a net internal area basis to offer the following floor areas;

149 MID STREET

Ground: 16.7sqm (180sq ft)
1st Floor: 54.91sqm (591sq ft)

151 Mid Street

Ground: 69.41sqm (747sq ft)

Investment Executive Summary

The ground and first floor of 149 MID STREET are leased to Graeme Munro & Company Ltd on a Full Repairing and Insuring lease, expiring 17th April 2021. Further information available on request

NAV/RV

The properties have been assessed and entered onto the valuation roll with the following NAV/RV’s

149 Mid St: £3,300
151 Mid St: £4,700

Rent

Our client is offering 151 Mid Street on a new full repairing and insuring head lease for a negotiable term, price on application

Freehold Sale

The property is available on a freehold basis, price available on request

V.A.T.

Figures quoted are exclusive of V.A.T.

E.P.C.

Available on request

Legal

Each party shall bear their own legal costs incurred in the transaction

Legal Costs

Each party shall bear their own legal costs incurred in the transaction

Viewing

Available on request

LOCATION

Location: 151 Mid Street, Keith, Moray, AB55 5BJ

Keith (0.7 miles)

Huntly (9.4 miles)

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