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1-3 Albyn Terrace , Aberdeen, AB10 1YP Image

1-3 Albyn Terrace , Aberdeen, AB10 1YP

For Sale

  • Tenure

    For Sale
  • Type

    Investment - Offices
  • Price

    - £1,500,000 Offers Over
  • Size

    11,837 Sq Ft

Property Highlights

  • High yielding office investment with conversion potential.
  • Prominently located in the heart of Aberdeen's West End.
  • Architecturally striking Grade B listed building.
  • Estimated office floor area of 11,837 sq ft with a blend of open plan and cellular space.
  • Good mix of occupiers from a range of business sectors.
  • WAULT to expiries of 3 years and 2.2 years to break options.
  • Immediate opportunity to increase rental income.
  • Offers over £1,500,000 exc VAT are sought, reflecting a net initial yield of 12.15%.
  • Low capital rate of £126.72 per sq ft.

Overview

The premises comprise an architecturally imposing period office building of granite and slate construction with a private car park and lock-up garages accessed from a lane at the rear. The Category B building, which dates back to 1864, is made up of three interlinked terraced buildings. The internal accommodation is arranged over four floors - lower ground, ground and first and second.

The building functions as a multi-let office with a mix of open plan and cellular office space provided and is decorated to suit the occupiers' individual needs. The property has a mix of gas fired/electric radiator heating and modern lighting. Toilet and kitchen facilities are provided on all floors. The building has multiple access points to the front and side elevations which provides some occupiers with an exclusive entrance.