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Original Factory Shop Investment - Marischal Street, Peterhead

For sale: POA|7,204 Sq Ft|Office, Retail - High Street, Showroom, Offices, Retail, Other Property Types & Opportunities

Property details

FOR SALEPOA
SIZE7,204 Sq Ft
ADDRESSTofs, 14-16 Erroll Street, Peterhead, Aberdeenshire, AB42 1PX
TYPEOffice, Retail - High Street, Showroom, Offices, Retail, Other Property Types & Opportunities
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON26th April 2024

Description

Prominent Established Trading Locale
Opposite Car Park
7,204sq ft
Held on F.R.I Lease
Original Factory Shop
Expiry 23rd August 2033
Passing Rent: £25,000p.a.x
Price: o/o £200,000

Location

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.

Property

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.

Area

The property extends to the following internal area;

Ground: 398.5sqm (4,290sq ft)
1st: 190.26sqm (2,048sq ft)
2nd 95.78sqm (1,031sq ft)

Total: 669.26sqm (7,204sq ft)

Lease Summary

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

Price

The property is available on a freehold basis for offer over £200,000

V.A.T.

The property has been elected for V.A.T. as such the transaction may be treated as a T.O.G.C (transfer of a going concern)

Legal

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

Lease & Title

Available on request

Viewing

Whilst it is a good idea to visit a property investment that is being marketed for sale as a customer before making a formal viewing, it is vitally important that such visits are carried out confidentially and that no approach is made to the staff, operators or customers of the business.
Many investments are being marketed confidentially and the staff and locals may not know that the property is on the market, therefore a casual approach can adversely affect the business

Anti-Money Laundering

In order to comply with anti-money laundering legislation, the successful purchaser / tenant will be required to provide certain identification documents. The required documents will be confirmed to and requested at the relevant time

Location

marker
Location: Tofs, 14-16 Erroll Street, Peterhead, Aberdeenshire, AB42 1PX
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