• Substantial City Centre building

• Part income producing with lease to Coral Racing Limited

• Large vacant retail unit

• Upper floor offices capable of redevelopment for residential use, subject to planning

• 18 secure car spaces

• Grade B Listed building

• Offers in excess of £850,000, subject to contract

The subjects are located within the heart of Union Street, adjacent to one of its principal junctions Union Terrace/Bridge Street. Aberdeen Bus and Rail Stations, Union Square and Trinity Shopping Centre are all within easy walking distance of the property.

Historically a retail dominant location, several new developments have been constructed providing a mixture of uses within Union Street including retail, licensed, office, residential and hotels. Other nearby occupiers include Travelodge, Chaophraya, Mercure Caledonian Hotel, PWC, and Barclays Bank.

The subjects comprise two ground floor retail units with self-contained office suites situated above, within a mid-terraced block fronting Union Street, with a large secure car park to the rear.

The front elevation of the three storey, basement and attic building, is Category ‘B’ listed, constructed from traditional granite leaf with the remaining elevations constructed from reconstituted granite concrete blockwork. The roof is of mansard design with a mixture of slate and felt covering, with the subjects benefitting from a combination of aluminium and UPVC framed double glazed windows throughout.

The retail accommodation, comprises two units, one of which is currently leased to Coral Racing Limited with the other unit vacant. The subjects benefit from glazed entrance doors with full width display windows and signage above. The units offer open plan retail space, with separate storage and toilet facilities to the rear.

The office accommodation is arranged over the first, second and third floors and is served by a main entrance from Union Street with security entry. An eight-person lift, again with security entry, provides access to all upper floors. The office suite on Windmill Brae has dedicated access from the street.

Access to the car park is from Windmill Brae and comprises a total of 18 single car spaces, along with plant and store areas.

The office accommodation provides a mixture of open plan and cellular offices throughout, with kitchen and toilet facilities. The self-contained office suite on Windmill Brae is open plan and has recently been refurbished to a high standard. The subjects benefit from suspended ceilings with recessed fluorescent light fittings, gas central heating, carpeted flooring and perimeter trunking in part.

Heritable (Scottish equivalent of English freehold)

The retail unit located at 181B Union Street, is currently leased to Coral Racing Limited, on an FRI lease until 28th February 2023. The current rent is £33,600 per annum equating to £43.02/sq ft.

The remainder of the accommodation is vacant.

The property has been elected for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).

We are instructed to seek offers in excess of £850,000 (Eight Hundred and Fifty Thousand pounds), for the entire heritable interest.

Please note that a purchaser will be re-charged the costs of the searches which are provided in the data room.

Please note a purchaser will be charged a Transaction Fee of £5,000 plus VAT.

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