Page 23 - Shepherd Commercial Auctions - Catalogue June 2023
P. 23
Lot17 9AMossStreetE, lginM, orayIV30 1LU RestaurantInvestment
Features
•Attractive"C"ListedformerChurchbuilding •FRlIeasetoElginRestauranLttd •Currenitncome£20,582p.a. •Extendstoapprox5.49sqm.(.5,914sqf.t.)
Description
ThesubjectscompriseasubstantiasltandaloneGrade“C”Listedformerchurchbuilding datingto1857T.hemainbuildingisosftoneandslateconstructionT.hereisarear singlestoreyprojectionomfasonryconstructionharledexternallyunderaleantoroof cladwithacorrugatedsheeting.
Accommodation
InternallytheaccommodationisarrangedovergroundandfirsftloorlevelsT.hefloors areamixosfuspendedtimberandsolidconcreteconstructionW.indowsthroughouatre amixtimbercasemenatnduPVCdoubleglazedesignT.hesubjectshaveanelectric heatingsystem.
Thegroundfloorprovidesanentrancevestibulewithaccesstotoiletsandastaircaseto thefirst-floorlevelT.hereisalargeopenplandiningareawithformablard,ry goods/drinkstorageandakitchenwithfoodprepandutilityareasT.hefirsftloor providesalargeopenplanspacewhichasbeenpartiallycompartmentalisedtocreatea
numberosftorageroomsandstafafreas. RateableValue
Location
Elginisthemainadministrativeandcommerciacl entrefortheregionoMf orayinthe northeasotSfcotlandT.hetownliesapproximately38milestothenortheasotIfnverness Tenancy
and66milesnorthwesotAfberdeenviathemainA96trunkroad.
ThesubjecptropertyislocatedonMossStreeatittsjunctionwithFrancisPlace occupyingaprominenctornerlocationM.ossStreeftormsparotofneotfhemainarterial routesthroughElgintowncentreandconnectsdirectlytotheA941S.urrounding propertiesaregenerallyincommerciaulseandincludehotealndB&Bestablishmentsas welalsaselectionorfetailersS.hoppinge,ducationandtransporftacilitiesareall availableincloseproximity.
ThepropertyisletoElginRestauranLtimitedunti4lthJanuary2035onFRI leasetermsaatcurrenrtentaol£f20,582perannumT.heleaseisubjecto 3-yearlyrenrteviewswiththenexrteviewfallingdueon5thJanuary2024. Basedonthecurrenrtentailncomeo£f20,582perannume,xclusiveof VATa,purchasepriceathisleverlepresentsaNeItnitiaYlieldo8f.06% afterdeductiononformaplurchaser’scostsandaReversionaryYieldof 9.78%.
AuctionType
SiteArea UnconditionaSlale-Thebuyersfeeis1.8%incVAT(1.5%plusVAT)
TheapproximatesiteboundariesareshownoutlinedinredontheplanoppositeT.hereis subjectoaminimumo£f1,800incVAT(£1,500plusVAT). serviceaccessathesideotfhepropertyandspaceforefusestorage.
*GuidePrice£250,000(plusfeesifapplicable)
*PleaseseeBuyer’sTermsfordefinitionogfuideprice 23 andauctionfees
Planning
ThepropertyislistedinthecurrenVtaluationRolalsfollows:- RestauranN|tAV/RV£:17,500aso1fsAtpri2l023.
TheunicturrentlybenefitsfromClass3(FoodandDrink)Consenitnterms otfheTown&CountryPlanning(UseClasses)(Scotland)Order1997.
