52 - 54 Union Street
Aberdeen
AB10 1WR

Heritable Bank Investment

  • Entirely let to Bank of Scotland Plc t/a Halifax until 2031 (no breaks)
  • 12 years term certain with upward only rent reviews in 2021 and 2026
  • Tenant option to extend for a further 10 years
  • Principal retail thoroughfare in city centre location
  • Nearby occupiers include Holland & Barrett, Brewdog, Cydesdale Bank and Sports Direct
  • Lot
    11
  • Auction
    24/Oct/2019
  • Rent
    £75,000 per Annum Exclusive
  • Status
    Available
  • Price*
    £975,000
  • Sector
    High Street Retail
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    London W1H 7TN
  • On behalf of a Major Investment Manager
  • 52 - 54 Union Street<br>Aberdeen<br>AB10 1WR
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
67 miles north-east of Dundee
Roads
A90, A96
Rail
Aberdeen Railway Station
Air
Aberdeen Airport
Situation

Aberdeen is the third largest city in Scotland, known globally as a hub for the oil and gas sector. The property is situated on the north side of the busy Union Street at its eastern end, close to its junction with St Nicholas Centre and Market Street. Union Street is the principal retail thoroughfare in Aberdeen city centre, linking King Street in the east with Holburn Street to the west. The St Nicholas Centre houses occupiers including Marks & Spencer, Holland & Barrett, Starbucks and The Body Shop. Other nearby occupiers include Five Guys, Sports Direct, Caffè Nero and Schuh.

Tenure

Heritable. (Scottish equivalent of English Freehold)

Description

The property comprises a ground floor banking hall with ancillary accommodation at first, second and third floors.

VAT

VAT is not applicable to this lot.

Viewings

Please contact Mhairi Jarvis on mhairi.jarvis@acuitus.co.uk

EPC

Band E. See legal pack at acuitus.co.uk

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReviews
Ground
First
Second
Third
Banking Hall
Ancillary
Ancillary
Ancillary
128.76 sq m
116.41 sq m
84.17 sq m
103.68 sq m
(1,386 sq ft)
(1,253 sq ft)
(906 sq ft)
(1,116 sq ft)
BANK OF
SCOTLAND PLC
t/a Halifax
15 years from
15/11/2016 until
14/11/2031 on a
full repairing and
insuring lease (2)
£75,00015/11/2021
and
15/11/2026
Total
433.02 sq m
(4,661 sq ft)
  £75,000 

(1) For the year ending 31st December 2018, Bank of Scotland Plc reported pre-tax profits of £2,231,000 and a total net worth of £11,175,000 (Source: Experian Group 23/09/2019). Bank of Scotland is part of Lloyds Banking Group, the UK's leading financial services company that serves around 27 million customers. The group also has some of the most well known brands on the high street, including Lloyds Bank, Halifax and Scottish Widows. (Source: www.lloydsbankinggroup.com 28/09/2019).
(2) The tenant has an option to extend the lease for an additional 10 years.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    18.10.19
    File Size
    21 MB
    Login to View
  • Catalogue Page
    Updated Date
    02.10.19
    File Size
    893 KB
    View PDF
  • Site Plan
    Updated Date
    02.10.19
    File Size
    3 MB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    19.09.19
    File Size
    36 KB
    View PDF

Contacts

Acuitus
Georgina RobertsGeorgina Roberts +44 (0)20 7034 4863 +44 (0)7899 877 224georgina.roberts@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854billy.struth@acuitus.co.uk
Seller's Solicitors
Brodies LLP 15 Atholl Crescent
Edinburgh
EH3 8HA
Clare Dewar 0131 656 0066clare.dewar@brodies.com

Useful Links

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now