53 Bighty Avenue, Glenrothes, Fife, KY7 5AD

  • Unconditional Online Auction Sale
  • Guide Price* : £55,000

SALE BY ONLINE AUCTION THURSDAY 1ST JULY 2021. Presenting to market this Commercial Investment Opportunity in Glenrothes, Fife. Sold with existing tenant and rental income of £625 per month (£7,500 per annum). Existing rental yield of 11.6% per annum if purchased at Guide Price.

Description

SALE BY ONLINE AUCTION THURSDAY 1ST JULY 2021. Presenting to market this Commercial Investment Opportunity in Glenrothes, Fife. Sold with existing tenant and rental income of £625 per month (£7,500 per annum). Existing rental yield of 11.6% per annum if purchased at Guide Price.

• Commercial investment opportunity***Circa 450 sq ft***Well let shop unit in popular local parade*** Densely populated location*** Long Term tenant who has signed up on a new FRI Lease*** All rent up to date***
• This property is let for £625pcm (+vat) on a new commercial FRI Lease agreement ***£7500 per annum income *** This is a rental yield of 11.6% per annum*** Similar shop on same parade recently sold for £85,000***
• Very popular residential area: 7 Bighty Ave Sold £132k (Jan 21) ***45 Bighty Ave Sold £117k (Dec 20) ***32 Bighty Ave Sold £110k (Nov 20) *** 21 Bighty Ave Sold £120k (May 20) ***
• 53 Bighty Ave is occupied by a hairdresser***The tenant has been in occupation for a number of years*** The current combined rent is £7500 per annum*** Excellent Secure income investment opportunity***
• Super sized shops: ***Other occupants in parade include Hot food takeaway, post office / spar, newsagent & hairdressers*** Popular local parade***
Fantastic opportunity to acquire a well let retail unit in popular local parade of shops in a sought after residential district in Glenrothes. This property is being sold with a tenant in place and although subject to VAT, any sale could be treated as a TOGC (subject to obtaining independent advice).*** Number 59 Bighty Ave (NOW SOLD) was recently on the market at O/o £85k*** The property is a ground floor retail units contained within a two storey terrace of similar properties with residential on the 1st floor. The property appears to be of brick construction rendered externally beneath a pitch and tile roof. Glenrothes is a thriving New Town in Central Fife with an expanding population which is now approaching approximately 50,000. The town is the administrative centre for the Fife Region and benefits from a busy commercial centre focused on the Kingdom Centre and also a large number of established industrial estates around its periphery. The subjects are well situated for access to the A92, connecting to the central belt via the M90. Glenrothes is further served by having railway stations at both Thornton and Markinch *** This property is currently let to a long term tenant on a new FRI commercial lease*** Current tenant’s rent is fully up to date*** Glenrothes is a major service centre and is the administrative capital of Fife, containing the headquarters of both Fife Council and Police Scotland Fife Division. It is a centre for excellence within the high-tech electronics and manufacturing sectors.

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* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

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1st Jul 2021 09:00
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