FOR SALE BY ONLINE AUCTION THURSDAY 30TH JUNE AT 9.00AM. Partially tenanted office block circa 13,000sqft in central location in Arbroath. Current rental income is £62,800 per annum, with scope to increase by leasing the vacant offices. Incredible turnkey investment opportunity.
The property is a two-storey office block on a main road in Arbroath, with a large car park to the rear. The property is circa 13,000 sqft over two floors, with the entire ground floor currently occupied and the first floor partially occupied.
The entirety of the ground floor is let to Angus Carers Association (Charity No SC026052) starting September 2015 until August 2030, paying £42,000 per annum.
The first floor is partially tenanted;
1 year lease from December 2021 by Dundee and Angus ADHD Support Group SCIO paying £13,000 per annum.
Month by month Licence from January 2017 by Ark Housing Association Ltd paying £7,800 per annum.
The total annual income is currently £62,800 (11.42% yield at Guide Price) with scope to increase this amount by letting out the remaining vacant units.
Arbroath is the largest town in Angus, with a population of roughly 24,000 people and plenty of amenities. The town is situated on the east coast of Scotland and is a traditional seaside town with a picturesque harbour and long sandy beaches. Located in between the cities of Aberdeen and Dundee and connected to both via the A92 road, the town has good transport links by road. The property itself is just off the A92 in the centre of the town, opposite a Morrison's supermarket and round the corner from the famous Arbroath Abbey.
To view legal documents relating to this property please visit our website.
Purchases are subject to a Buyer’s Premium. There may also be additional fees on certain properties. Please refer to the Articles of Roup/Special Conditions in the Legal pack to confirm.
Partially Tenanted Two-Storey Office Block in Arbroath
Current Rental Income of £62,800pa, With Scope to Increase by Leasing Vacant Offices
Incredible Turnkey Commercial Investment
* 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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