Ardent West, North Esplanade Way Harbour City Aberdeen AB11 5RJ

Ardent West, North Esplanade Way
Harbour City
Aberdeen
AB11 5RJ

  • Ardent West, North Esplanade Way<br>Harbour City<br>Aberdeen<br>AB11 5RJ

Heritable Ground Rent Investment

  • Let on a 125 year lease to Coal Pension Properties Limited until 2139 providing 117 years unexpired lease term
  • Located in the established North Dee Business Quarter in Aberdeen City Centre overlooking the River Dee
  • Within a 5 minute walk of Aberdeen Railway and Bus Stations and Union Square Shopping Centre
  • 5 yearly upward only rent reviews (minimum uplift of 2.5% compounded annually)
  • Site Area of 0.1812 Hectares (0.45 Acres)
  • Other occupiers on North Dee include ENGIE, EnQuest and Jewson
  • Lot
    18
  • Auction
    12/Jul/2022
  • Rent
    £25,923 per Annum
  • Status
    Available
  • Price*
    £575,000
  • Sector
    Ground Rent
  • Auction Venue
    Live Streamed Auction
  • A Major Fund
  • Expand
  • Photos
  • Map

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

Property Information

Location
Miles
Aberdeen City Centre, 67 miles north-east of Dundee
Roads
A956, A93
Rail
Aberdeen Rail
Air
Aberdeen International Airport
Situation

The site is strategically and prominently positioned fronting North Esplanade West in Aberdeen City Centre. The local area is known as North Dee Business Quarter, a city centre business district which has been extensively developed offering around 300,000 sq ft of office accommodation, primarily fronting on to the River Dee. The site benefits from strong transport links from the A39 and Aberdeen Rail Station. Nearby occupiers include ENGIE, EnQuest, Petrofac, Jewson and Marex.

Tenure

Heritable.

Location
Miles
Aberdeen City Centre, 67 miles north-east of Dundee
Roads
A956, A93
Rail
Aberdeen Rail
Air
Aberdeen International Airport
Situation

The site is strategically and prominently positioned fronting North Esplanade West in Aberdeen City Centre. The local area is known as North Dee Business Quarter, a city centre business district which has been extensively developed offering around 300,000 sq ft of office accommodation, primarily fronting on to the River Dee. The site benefits from strong transport links from the A39 and Aberdeen Rail Station. Nearby occupiers include ENGIE, EnQuest, Petrofac, Jewson and Marex.

Tenure

Heritable.

Description

The property comprises a site area of approximately 0.1812 hectares (0.45 acres) upon which has been constructed a modern office building over 6 floors, totaling approximately 4,328.80 sq. m. (46,991 sq. ft.) with undercroft car parking.

VAT

VAT is applicable to this lot.

Completion Period

6 week completion available.

EPC

Not applicable.

Description

The property comprises a site area of approximately 0.1812 hectares (0.45 acres) upon which has been constructed a modern office building over 6 floors, totaling approximately 4,328.80 sq. m. (46,991 sq. ft.) with undercroft car parking.

VAT

VAT is applicable to this lot.

Completion Period

6 week completion available.

EPC

Not applicable.

Tenancy & Accommodation

Unit Site Area Tenant Term Rent p.a.x. Reviews
Ardent West 0.1812 hectares
(0.45 acres)
Coal Pension Properties Ltd (1) 125 years from 29/09/2014 until 28/09/2139
£25,923
28/05/2024 and five yearly thereafter (2)
Total 0.1812 hectares
(0.45 acres)
   
£25,923
 

(1) Coal Pension Properties Ltd was incorporated in 1949 and has two Limited companies with significant control who include Coal Staff Superannuation Scheme Trustees Limited and Trustees Of The Mineworkers' Pension Scheme Limited. (Source:
(2) The ground rent is to be reviewed 5 yearly to the higher of (i) the yearly rent payable increased by 2.5% per annum from the preceding review date, compounded annually and (ii) the market rental value.

If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    01.07.22
    File Size
    7 MB
    Login to View
  • Brochure
    Updated Date
    22.06.22
    File Size
    2 MB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Mhairi ArchibaldMhairi Archibald +44 (0)7718 899 341 Mhairi.archibald@acuitus.co.uk
Jon SkerryJon Skerry +44 (0)20 7034 4863 +44 (0)7736 300 594jon.skerry@acuitus.co.uk
Seller's Solicitors
Burness Paull LLP Union Plaza
Aberdeen
Aberdeen, Scotland
AB10 1DQ
Victoria Blair 07876 861839Victoria.Blair@burnesspaull.com  Ashleigh Macgregor +44 (0)1224 618504Ashleigh.Macgregor@burnesspaull.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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