Page 12 - Shepherd Commercial Auctions - Catalogue 22/02/2024

Lot 8 38-40 Crossgate, Cupar, Fife KY15 5HS Retail Investment
Features
• Let to PLM Optometrists until 27th August 2027 at £14,500 per annum • Entire building in prime location within popular town
• Net Initial Yield 11.39%
• 161.30 sq. m. (1,736 sq. ft.)
Accommodation
The subjects comprise an end terraced two storey property of stone construction with pitched slate roof over. The property is Category ‘C’ Listed and is understood to date from the late 19th Century.
The subjects comprise ground floor retail premises with front shop , 2 consulting rooms, kitchen, W.C. and Store whilst the first floor comprises 5 offices, W.C. and storage.
Location
Cupar which has a population of some 8,500 persons (source: Fife Council) is one of the principal towns within Fife and is positioned approximately 16 km (10 miles) west of St Andrews, 24 km (15 miles) south east of Dundee and 70 km (44 miles) northwest of Edinburgh.
Cupar is historically a market town and is occupied by a number of local and national businesses.
The town sits on the A91 trunk road which links Stirling and St Andrews and benefits from access to the main east coast national rail network linking London and Aberdeen.
The town is home to two primary schools and one secondary school as well as Elmwood College.
The property is located on Crossgate the main retail thoroughfare within the town. Energy Performance Rating To be confirmed.
*Guide Price £125,000 plus VAT (plus fees if applicable)
12 * Please see Buyer’s Terms for definition of guide price and auction fees
Tenancy
The property is held on a full repairing and insuring terms as follows:
Tenant – PLM Optometrists
Expiry – 27th August 2027 Passing Rent - £14,500 per annum Rent Review– 28th August 2026
The tenant company has been in occupation of the premises since 1991 and is an independent group of opticians trading from four other premises within Fife.
Auction Type
Unconditional Sale - The buyers fee is 2.4% inc VAT(2% plus VAT) subject to a minimum of £2,500 inc VAT(£2,083.33 plus VAT). The buyer will also be asked to contribute towards the seller’s legal fees – see special condition within legal pack for full details.