1 Queen's Cross 8,515 SF Retail Building Aberdeen AB15 4XU £2,100,000 (£246.62/SF) 10.10% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Outstanding single-let office and banking hall
- Break option recently removed, providing 5.51 years unexpired
- Passing rent of £225,250 per annum, reflecting £26.45 per sq ft
- Long-term redevelopment potential
- Strong tenant covenant, Clydesdale Bank plc T/A Virgin Money
- Very low risk CreditSafe rating of 86A
- 8,515 sq ft with an excellent car parking ratio of 1:266
- Price - £2,100,000 exclusive of VAT, reflecting a net initial yield of 10%
EXECUTIVE SUMMARY
Offers over £2,100,000 excluding VAT are sought for our client’s heritable interest in the building. A purchase at this level would show
an attractive net initial yield of 10.1% after deduction of purchaser’s costs and LBTT.
an attractive net initial yield of 10.1% after deduction of purchaser’s costs and LBTT.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Bank
Building Size
8,515 SF
Building Class
B
Year Built
1865
Price
£2,100,000
Price Per SF
£246.62
Net Initial Yield
10.10%
NOI
£212,100
Tenancy
Single
Number of Floors
3
Slab to Slab
12 ft
Building FAR
0.78
Lot Size
0.25 AC
Frontage
35 ft on Queens Cswy
AMENITIES
- 24 Hour Access
- Security System
- EPC - B
- Storage Space
1 of 1
NEARBY MAJOR RETAILERS
