Map1 bedroom property
Key information
Features and description
- Investment property
- Large freehold property
- Long term leases in place
- Category C listed building
- Owner is achieving around 9% yield
- Comprising 4 flats and 2 commercial units
- For Sale By 'Secure Sale' Terms & Conditions apply
We are pleased to offer to auction this extremely rare opportunity to purchase a freehold category C listed building, comprising 4 flats and 2 commercial units. The property is located in the centre of Brechin, on the High Street. Brechin is very popular town situated within Angus and is a short drive from both Aberdeen and Dundee. This is a great opportunity for an investor with the flats and commercial units all currently rented out on long term leases. The commercial units occupy the ground floor with 2 flats on the first floor and a further 2 on the second.
Three of the flats are one bedroom flats with the other flat 2 bedroom. The current rents range from £300 to £370 per calendar month. The two commercial units are on long term leases and are fitted out as a beauty salon (approx. 35m2, rent £280 per month) and a hot food takeaway (approx. 128m2, rent £1,000 per month).
The whole property is being offered to the market at offers around £350,000. This is in line with a recent survey that has been carried out. At present, the owner is achieving around 9% yield.
Please note we have not inspected this property.
Rooms
Location
The property is located in the centre of Brechin, on the High Street. Brechin is very popular town situated within Angus and is a short drive from both Aberdeen and Dundee.
Accommodation
This is a great opportunity for an investor with the flats and commercial units all currently rented out on long term leases. The commercial units occupy the ground floor with 2 flats on the first floor and a further 2 on the second.
Lease Details
Three of the flats are one bedroom flats with the other flat 2 bedroom. The current rents range from £300 to £370 per calendar month. The two commercial units are on long term leases and are fitted out as a beauty salon (approx 35m2, rent £280 per month) and a hot food takeaway (approx 128m2, rent £1,000 per month).
Tenure
Freehold. Title number ANG35768.
Auctioneers Additional Comments
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.
Please be aware that any inquiry, bid or viewing of the subject property will require your details to be shared between both the marketing agent and The Auctioneer in order that all matters can be dealt with effectively.
This auction lot is being sold either by, conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.
The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via The Auctioneers or the Marketing Agents website.
Auctioneers Additional Comments
Your details may be shared with additional service providers via the marketing agent and/or The Auctioneer.
A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers' obligations and sellers' commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification and identity process in accordance with Anti Money Laundering procedures.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit of 5% of the purchase price of the lot subject to any special conditions detailed in the legal pack. The deposit will be a contribution to the purchase price. A non-refundable reservation fee may also be payable upon agreement of sale (Details of which can be obtained from the auctioneers website). The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.
Both the Marketing Agent and The Auctioneer may believe it necessary or beneficial to the customer to pass your details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.
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