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1 Shiprow

65,115 SF 89% Leased Retail Building Aberdeen AB11 5BY £3,000,000 (£46/SF) 24.80% Net Initial Yield

Investment Highlights

  • VUE Cinema and Lane 7
  • very low capital value of £46 psf
  • RY 16%

Executive Summary

The VUE Cinema and Lane 7 at Shiprow, city centre Aberdeen. Tangible asset management opportunities to regear VUE beyond 2026; expand Lane 7 into ground floor and/or let the part ground and first floor to a new operator. Seeking offers for this 65,000 sq ft asset of £3.0 million reflecting an attractive NIY of 24.8% (RY 16%) after standard purchaser's costs and a very low capital value of £46 psf.

Property Facts

Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Retail
Building Size
65,115 SF
Building Class
B
Year Built
2001
Price
£3,000,000
Price Per SF
£46
Net Initial Yield
24.80%
NOI
£744,000
Percent Leased
89%
Tenancy
Multiple
Number of Floors
4
Building FAR
0.59
Lot Size
2.53 AC
Frontage
185 ft on Shiprow

Amenities

  • 24 Hour Access
  • Storage Space

Space Availability

  • Space
  • Size
  • Space Use
  • Position
  • Available
  • Ground
  • 7,383 SF
  • Retail
  • In-Line
  • Now

The subjects comprise the ground and first floor of a 3 storey building in the south section of a purpose built leisure complex constructed in approximately 2001. The lower ground floor has been recently fitted out as a bar with bowling alley with the northern section, which is arranged over 4 floors, housing the Vue Cinema

Space Size Space Use Position Available
Ground 7,383 SF Retail In-Line Now

Ground

Size
7,383 SF
Space Use
Retail
Position
In-Line
Available
Now

Ground

Size 7,383 SF
Space Use Retail
Position In-Line
Available Now

The subjects comprise the ground and first floor of a 3 storey building in the south section of a purpose built leisure complex constructed in approximately 2001. The lower ground floor has been recently fitted out as a bar with bowling alley with the northern section, which is arranged over 4 floors, housing the Vue Cinema

Nearby Major Retailers

Sainsbury's
HSBC
Caffe Nero
Pure Gym
Virgin Money Plc
TSB Bank
Five Guys
eurochange
Costa Coffee
Bank of Scotland
  • Listing ID: 31026851

  • Date on Market: 23/02/2024

  • Last Updated:

  • Address: 1 Shiprow, Aberdeen AB11 5BY

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