24 Rosemount Place - DM Hall

investmentdmhall.co.ukFOR SALERETAIL INVESTMENT24 Rosemount Place, Aberdeen, AB25 2XU• Offers over £140,000• Let to Lewis Stuart Limited t/a Belvoir Lettings Aberdeen until 31 October2017 with tenant’s option to extend for a further 5 years• Lease obligations personally guaranteed by Lewis Longmuir StuartCommercial Department259 Union Street, Aberdeen, AB11 6BR 01224 594172

LOCATIONThe property is situated in a secondary retail pitch on the north sideof Rosemount Place close to its junction with Forbes Street.Rosemount is a high density residential area lying approximately onemile to the north of Aberdeen city centre. Rosemount Place is theprincipal arterial route through this part of the city and enjoys stronglevels of passing trade. There is a wide variety of both national andlocal traders nearby including Tesco Express and Sainsbury Localoutlets further up Rosemount Place.The exact location of the property is noted on the undernoted plan.ACCOMMODATIONThe following accommodation is provided, measured on a net internalbasis in accordance with the RICS Code of Measuring Practice (SixthEdition).Ground FloorITZA77.3 sq m (832 sq ft)61.0 sq m (656 sq ft)PLANNINGThe property recently obtained planning permission for use forthe provision of financial, professional and other services in termsof Class 2 of the Schedule to the Town and Country (Planning UseClasses) (Scotland) Order 1997. There is automatic reversion toClass 1 general retail use if required.TENANCY DETAILSThe property is let on restricted full repairing and insuring terms toLewis Stuart Limited T/A Belvoir Lettings Aberdeen with the leaseobligations personally guaranteed by Lewis Longmuir Stuart.The lease commenced on 1 November 2012 and runs until 31October 2017, subject to a tenant’s option to extend for a furtherfive year period subject to giving a minimum of six months priorwritten notice. The rental in years one and two is £9,750 per annum,rising thereafter to £13,000 per annum. In the event that the lease isextended, the rent is subject to upward only review on 1 November2017.The tenant’s repairing obligations are limited to 50% (or £1,000 if lessfor each individual repair) of the cost ofThe repair and maintenance of the exterior of the single storey rearextension; andThe proportionate share of maintaining the external common partsof the tenement.TENANCY DETAILSLewis Stuart Limited is the local franchisee of Belvoir Letting Agentswhich is a specialist professional residential property letting agencywith over 140 offices nationally. Lewis Stuart acquired the franchisein July 2011 and the business recently relocated to larger premisesat 24 Rosemount Place.TENUREThe subjects are held on heritable (freehold) tenure.ENERGY PERFORMANCE CERTIFICATEThe property has an EPC rating of “E”.Full documentation is available on request.PRICEOffers over £140,000 are invited.VATPlease note that the property is not VAT registered and no VAT willthus be payable on the purchase price.DESCRIPTIONThe property comprises a fully refurbished residential letting agencyoffice situated on the ground floor of a traditional three storey andattic end-terraced tenement building of traditional granite and slateconstruction. The office has a single storey extension to the rear ofsimilar construction. Private residential flats in separate ownershipoccupy the upper floors.The office frontage comprises two large single glazed aluminiumframed display windows with a flush central entrance doorway.Internally, the premises are very well appointed and comprise a frontsales area, rear private office with tea prep area and staff toilet withshower cubicle.OFFERS / VIEWINGAll offers should be submitted in writing to the sole agents who willalso make arrangements to view.DM Hall LLP259 Union StreetAberdeenAB11 6BRTel: 01224 594172Fax: 01224 574615E-mail:trevor.morgan@dmhall.co.ukmatthew.park@dmhall.co.ukRef: ACA111158Date of Publication: May 2013IMPORTANT NOTEDM Hall for themselves and for the vendors or lessors of this property, whose agents they are, give notice that:(i)(ii)(iii)(iv)(v)(vi)The particulars are set out as a general outline only for the guidance of intended purchasers or lessees and do not constitute, nor constitute part of, an offer or contract.All descriptions, dimensions, reference to condition and necessary permissions for use and occupation, and other details are given without responsibility and any intended purchasers or tenants should not rely on them as statement orrepresentation of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them.No person in the employment of DM Hall has any authority to make or give any representation or warranty whatever in relation to the property.All prices, premiums and rents quoted are exclusive of VAT.The information contained in these particulars has been checked and, unless otherwise stated, it is understood to be materially correct at the date of publication. After these details have been printed, circumstances may change outsideour control.These particulars are provided for record purposes only and are not intended to create, nor to be relied upon as creating, any contractual relationship or commitment. Any contract shall only be entered into by way of our clients’ solicitors.