3 â 5 gordon street
3 – 5 GORDON STREET INDUSTRIAL INVESTMENT
FORRES IV36 1AH FOR SALE
•
OFFERS OVER £150,000 NET OF VAT
•
PASSING RENT £18,500 PER ANNUM NET OF VAT
•
LET TO DIRECT LAUNDRIES LIMITED
•
GROSS INTERNAL AREA 485.76 SQ.M/5229 SQ.FT OR THEREBY
•
NET INITIAL YIELD OF 12%
the complete property service
3 – 5 GORDON STREET
FOR SALE INDUSTRIAL INVESTMENT
FORRES
Location The property is situated on the east side of Gordon Street, directly at its junction with North Road in a semi-residential/commercial area a short distance from Forres High Street. Forres itself lies approximately 30 miles east of Inverness and 10 miles west of Elgin in Moray. DESCRIPTION The property comprises a range of interconnecting industrial buildings which are presently used as a commercial laundry. See attached indicative plan ACCOMMODATION DESCRIPTION
SQ.M
SQ.FT
Reception
60.11
647.04
Toilets
5.87
63.16
Admin & Stores
43.12
464.12
Laundry
137.30
1,477.92
Mid Storage
53.39
574.71
Laundry 2
137.86
1,483.87
Garage
48.11
517.86
TOTAL GIA
485.76
5,228.69
All areas indicative SERVICES We understand the property is connected to mains supply for water and electricity with drainage to the main sewer. RATEABLE VALUE The property is entered in the current Valuation Roll as £10,500. ENERGY PERFORMANCE RATING G LEASE TERMS The subjects are leased from 28 January 2005 for a period of 25 years. The Tenant has the option to extend the lease for a further period of 25 years from the termination date in 2030. The passing rent is £18,500 per annum. The Tenant is responsible for the upkeep of the property with the exception of latent and inherent defects if any. There may be a responsibility for the Landlord to repair if necessary an element of the machinery that is used by the laundrette. Further details to seriously interested parties. TENURE The subjects are held on the basis of outright ownership of the heritable interest subject to the occupational lease. PRICE Offers in excess of £150,000 net of VAT are invited for the benefit of our clients heritable interest in the subjects with the benefit of the occupational lease in favour of Direct Laundries Limited. A purchase at this level would reflect an attractive Net Initial Yield of 12% allowing for purchaser’s costs at 2.8%. The tenant has an option to purchase where the landlord receives an offer. They can only purchase on the same terms and conditions as that received. Further details on request. LEGAL COSTS Each party will make their own legal costs. ENTRY By mutual agreement
Indicative Plan
Viewing & Further Information Strictly by appointment through Messrs Graham + Sibbald Andrew Rose Email: [email protected] Date of publication June 2014 CONTACT: Graham & Sibbald 4 Ardross Street, INVERNESS, IV3 5NN Tel: +44 (0)1463 236 977 Aberdeen 01224 625 024 Dundee 01382 200 064 Edinburgh 0131 225 1559 Falkirk 01324 638 377 Glasgow 0141 332 1194 Hamilton 01698 422 500 Inverness 01463 236 977 Kilmarnock 01563 528 000 Kirkcaldy 01592 266 211 Paisley 0141 889 3251 Perth 01738 445 733 Stirling 01786 463 111 Weybridge 01932 260 726
IMPORTANT NOTICE Please read carefully 1. These particulars are intended as guide only. Their accuracy is not warranted or guaranteed. Intending Purchasers/Tenants should not rely on these particulars but satisfy themselves by inspection of the property. Photographs only show parts of the property which may have changed since they were taken. 2. Graham & Sibbald have no authority to give any representation other than these particulars in relation to this property. Intending Purchasers/Tenants take the property as they find it. 3. Graham & Sibbald are not authorised to enter into contracts relating to this property. These particulars are not intended to nor shall they form part of any legally enforceable contract and any contract shall only be entered into by way of an exchange of correspondence between our client’s Solicitors and Solicitors acting for the Purchaser/Tenants. 4. All plans based upon Ordnance Survey maps are reproduced with the sanction of Controller of HM Stationery. 5. A list of Partners can be obtained from any of our offices.
FORRES IV36 1AH FOR SALE
•
OFFERS OVER £150,000 NET OF VAT
•
PASSING RENT £18,500 PER ANNUM NET OF VAT
•
LET TO DIRECT LAUNDRIES LIMITED
•
GROSS INTERNAL AREA 485.76 SQ.M/5229 SQ.FT OR THEREBY
•
NET INITIAL YIELD OF 12%
the complete property service
3 – 5 GORDON STREET
FOR SALE INDUSTRIAL INVESTMENT
FORRES
Location The property is situated on the east side of Gordon Street, directly at its junction with North Road in a semi-residential/commercial area a short distance from Forres High Street. Forres itself lies approximately 30 miles east of Inverness and 10 miles west of Elgin in Moray. DESCRIPTION The property comprises a range of interconnecting industrial buildings which are presently used as a commercial laundry. See attached indicative plan ACCOMMODATION DESCRIPTION
SQ.M
SQ.FT
Reception
60.11
647.04
Toilets
5.87
63.16
Admin & Stores
43.12
464.12
Laundry
137.30
1,477.92
Mid Storage
53.39
574.71
Laundry 2
137.86
1,483.87
Garage
48.11
517.86
TOTAL GIA
485.76
5,228.69
All areas indicative SERVICES We understand the property is connected to mains supply for water and electricity with drainage to the main sewer. RATEABLE VALUE The property is entered in the current Valuation Roll as £10,500. ENERGY PERFORMANCE RATING G LEASE TERMS The subjects are leased from 28 January 2005 for a period of 25 years. The Tenant has the option to extend the lease for a further period of 25 years from the termination date in 2030. The passing rent is £18,500 per annum. The Tenant is responsible for the upkeep of the property with the exception of latent and inherent defects if any. There may be a responsibility for the Landlord to repair if necessary an element of the machinery that is used by the laundrette. Further details to seriously interested parties. TENURE The subjects are held on the basis of outright ownership of the heritable interest subject to the occupational lease. PRICE Offers in excess of £150,000 net of VAT are invited for the benefit of our clients heritable interest in the subjects with the benefit of the occupational lease in favour of Direct Laundries Limited. A purchase at this level would reflect an attractive Net Initial Yield of 12% allowing for purchaser’s costs at 2.8%. The tenant has an option to purchase where the landlord receives an offer. They can only purchase on the same terms and conditions as that received. Further details on request. LEGAL COSTS Each party will make their own legal costs. ENTRY By mutual agreement
Indicative Plan
Viewing & Further Information Strictly by appointment through Messrs Graham + Sibbald Andrew Rose Email: [email protected] Date of publication June 2014 CONTACT: Graham & Sibbald 4 Ardross Street, INVERNESS, IV3 5NN Tel: +44 (0)1463 236 977 Aberdeen 01224 625 024 Dundee 01382 200 064 Edinburgh 0131 225 1559 Falkirk 01324 638 377 Glasgow 0141 332 1194 Hamilton 01698 422 500 Inverness 01463 236 977 Kilmarnock 01563 528 000 Kirkcaldy 01592 266 211 Paisley 0141 889 3251 Perth 01738 445 733 Stirling 01786 463 111 Weybridge 01932 260 726
IMPORTANT NOTICE Please read carefully 1. These particulars are intended as guide only. Their accuracy is not warranted or guaranteed. Intending Purchasers/Tenants should not rely on these particulars but satisfy themselves by inspection of the property. Photographs only show parts of the property which may have changed since they were taken. 2. Graham & Sibbald have no authority to give any representation other than these particulars in relation to this property. Intending Purchasers/Tenants take the property as they find it. 3. Graham & Sibbald are not authorised to enter into contracts relating to this property. These particulars are not intended to nor shall they form part of any legally enforceable contract and any contract shall only be entered into by way of an exchange of correspondence between our client’s Solicitors and Solicitors acting for the Purchaser/Tenants. 4. All plans based upon Ordnance Survey maps are reproduced with the sanction of Controller of HM Stationery. 5. A list of Partners can be obtained from any of our offices.
