Job Centre Plus
5 Hunter Street
Kirkcaldy
Fife
KY1 1ED

Heritable Office Investment

  • Let to The Secretary of State for Communities and Local Government on an extended and renewed lease until 2027 (no breaks) (3)
  • Long term residential redevelopment potential (subject to consents)
  • Prominent corner position in the town centre
  • Close to Railway and Bus stations
  • Lot
    28
  • Auction
    14/Feb/2019
  • Rent
    £111,600 per Annum Exclusive
  • Status
    Available
  • Price*
    Contact Us
  • Sector
    Office
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • Job Centre Plus<br>5 Hunter Street<br>Kirkcaldy<br>Fife<br>KY1 1ED
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* More information on the term "price" can be found here

Property Information

Location
Miles
16 miles east of Dunfermline
Roads
A910, A92, M90
Rail
Kirkcaldy Railway Station
Air
Edinburgh Airport
Situation

The property occupies a prominent corner position in the town centre at the junction of Hunter Street and St Brycedale Road, opposite to The Postings Shopping Centre. The property benefits from close proximity to the railway and bus stations. Mercat Shopping Centre is located approximately 300 metres away and has occupiers such as Marks & Spencer, TK Maxx, Boots, Greggs, Home Bargains and Poundland.

Tenure

Heritable. Scottish equivalent to English Freehold.

Description

The property comprises office accommodation on ground and first floors. The property benefits from car parking at the front of the property. The property may be suitable for long term residential redevelopment (subject to consents).

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReviews
Ground
First
Office
Office
430.33 sq m
408.75 sq m
(4,632 sq ft)
(4,400 sq ft)
THE SECRETARY
OF STATE FOR
COMMUNITIES
AND LOCAL
GOVERNMENT
t/a Job Centre Plus
From 03/02/1995
until 31/03/2027
on a full repairing
and insuring lease
(1) (3)
£111,600 (2)01/04/2023
Totals
839.08 sq m
(9,032 sq ft)
  £111,600 (2) 

(1) The lease is on full repairing and insuring terms, subject to an arrangement during the period where the Government or a Government Department is the tenant where generally the Government will be self-insuring, i.e. there is no requirement for the tenant to insure and no entitlement for the landlord to insure. Where those circumstances apply, the Government Department assumes the risk of repair and reinstatement as set out in part 9 of the schedule to the lease.
(2) The lease provides for a rent free period from 1st April 2018 until 31st December 2019. The seller will pay the buyer monies equivalent to £111,600 per annum exclusive from completion of the sale until the end of the rent free period. Therefore, the property will produce £111,600 per annum exclusive from the completion of the sale.
(3) The lease was extended and the lease provisions varied as from 1st April 2018.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    05.02.19
    File Size
    19 MB
    Login to View
  • Site Plan
    Updated Date
    22.01.19
    File Size
    907 KB
    View PDF
  • Catalogue Page
    Updated Date
    22.01.19
    File Size
    2 MB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Mhairi JarvisMhairi Jarvis +44 (0)131 552 5191 +44 (0)7718 899 341mhairi.jarvis@acuitus.co.uk
Associate Auctioneers
CBRE Limited Henrietta House, Henrietta Place
London
W1G 0NB
Daniel Mattey 020 3257 6753daniel.mattey@cbre.com
Seller's Solicitors
Addleshaw Goddard LLP 3 Sovereign Square, Sovereign Street, Leeds LS1 4ER, UK
Liz Salmon 44 (0)141 574 2317Elizabeth.Salmon@addleshawgoddard.com  Sabrina Ellahi 0113 209 4951sabrina.ellahi@addleshawgoddard.com

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