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 14th February 2019
Rent £111,600 per Annum Exclusive
Status Sold Post
Price
Sector Office
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
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.
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.
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
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
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.
