Marischal Street, Peterhead, Aberdeenshire, AB42

Property Details: • Type: N/A • Tenure: N/A • Floor Area: N/A

Key Features:

Location: • Nearest Station: N/A • Distance to Station: N/A

Agent Information: • Address: 162 Buchanan Street, Glasgow, G1 2LL

Full Description: Prime Location Ground, Bsm & 1st 1,849sq ft V.A.T Free Investment Let To Duncan & Todd Expiring July 2032 Passing £21,000p.a. Price: o/o £220,000

Location

The property is situated on the south side of Marshal Street at its junction with Mainland's Pend in the main commercial centre 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. Neighbouring occupiers include Specsavers, Brewdog, Bupa Dental, Iceland and Royal Bank of Scotland.

Property

The property comprises the ground, basement and first floors of a traditionally constructed commercial development surmounted by a pitched roof.

The property benefits from prominent frontage with large display windows. Internally the property is presented in keeping with the tenants corporate specifications with marinated and carpeted flooring. Stores and staff facilities are situated within the first floor and basement level of the property

Area

Ground: 61.78sqm (665sq ft) Basement: 64sqm (689sq ft) 1st Floor: 45.98sqm (495sq ft)

Total: 171.76sqm (1,849sq ft)

Lease Summary

The property is held on an F.R.I Lease to Duncan & Todd Ltd expiring 3rd July 2032 with a passing annual rent of £21,000per annum. We understand there are no provisions for tenant break options.

Further: Duncan & Todd Ltd are part of the larger Duncan & Todd Group operating Optical and Hearing clinics across Scotland. The group operate 43 units across Scotland employing over 370 staff with brands including; 20/20 Opticians, Duncan & Todd, Browns Opticians, James Hughes amongst others. For the financial year ending 31st March 2024, Duncan & Todd Ltd reported an annual turnover of £27.579m with gross profit of £18.9m showing a 12% increase on the previous year.

Sale

The property is available on a freehold basis for o/o £220,000

VAT

We have been advised the transaction will not attract V.A.T.

Legal

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

Viewing

While it is a good idea to visit a property investment that has been marketed for sale as a customer before making a formal viewing. It is vitally important that such visits are confidentially and no approaches to be 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

TSA Property Consultants are regulated by HMRC in its compliance with the UK Money Laundering under the 5th Directive of the Money Laundering Regulations, effective from 10th January 2020, the agents are required to undertake due diligence on interested parties.