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106-110 South Street, St Andrews, Fife, KY16 9QD

1

Closing Date: 12 noon, 4 August 2017


Tenure:

For Sale

Type:

Investment property

Price:

£1,100,000 Offers Over

Size:

477 - 4,610 Sq ft

The subjects occupy a prominent position within the core town centre of St Andrews being located on the south side of South Street.

The subjects comprise two adjoining buildings connecting at first floor level over a pend. The buildings provide a combination of well-presented cellular and open plan office accommodation capable of sub-division and benefiting from profile and significant frontage onto South Street.

There are 5 clear car parking spaces to the rear.

The property has an EPC rating of 'D' and a copy of the report can be provided to interested parties.

Closing date: 2017-08-04

Floors/Units:
Ground Floor 2,002 Sq ft
First Floor 2,131 Sq ft
Second Floor 477 Sq ft
TOTAL 477 - 4,610 Sq ft

Associated files:

- High profile office investment in one of the UK's most presitigious market towns.
- FRI lease to Pagan Osborne Ltd expiring June 2029 (c. 12 years unexpired).
- Current passing rent of £72,000 pa.
- Minimum rental uplifts to £79,200 pa (June 2020) and £87,120 pa (June 2025).
- Offers over £1.1M (exclusive of VAT).
- Net Initial Yield of 6.21% rising to 6.83% in June 2020 and 7.51% in June 2025 (allowing for purchasers costs of 5.41%).

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