{"id":4151,"date":"2023-01-11T17:58:54","date_gmt":"2023-01-11T17:58:54","guid":{"rendered":"https:\/\/scotslion.co.uk\/?page_id=4151"},"modified":"2023-01-12T07:06:17","modified_gmt":"2023-01-12T07:06:17","slug":"abbey-studios","status":"publish","type":"page","link":"https:\/\/scotslion.co.uk\/home-page\/abbey-studios\/","title":{"rendered":"Abbey Studios"},"content":{"rendered":"

\u00a0\u00a0FOR SALE<\/strong><\/span><\/span><\/h2>\n

Investment <\/strong><\/span><\/span>Property: Abbey Studios Business Centre<\/u><\/b><\/span><\/p>\n

Income: \u00a316,284<\/span>\u00a0Per Annum: 9% Return<\/u><\/b><\/span><\/p>\n

Property Sale Guide: \u00a3180,000<\/u><\/b><\/p>\n

^^ Abbey Studios Business Centre ^^<\/strong><\/span><\/p>\n

Ground Floor: High Street Elevation.<\/strong><\/span><\/p>\n

280 High Street, Arbroath, Angus, DD11 1JF.<\/strong><\/span><\/p>\n

Offices 1 + 2 + 3 are leased by a firm of solicitors. Offices 4 + 5 + 6 are leased by a private equity company (formerly a public limited company (plc).<\/strong><\/span><\/p>\n

The monthly rent, payable on 1st of each month in advance (3 year contracts from 1st January 2022 on a renewable 3 year frequency). The rent total paid is \u00a31,357 per calendar month.<\/strong><\/span><\/p>\n

Room 7 is the staff kitchen and dining room (included in the rental agreements).<\/strong><\/span><\/p>\n

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^^ Offices 1 to 6 Are All Leased ^^<\/strong><\/span><\/p>\n

^^ Room 7 Is The Staff Kitchen & Dining Room ^^<\/strong><\/span><\/p>\n

Due to Data protection and GDPR legislation, prospective buyers solicitors can be supplied with copies of the original the lease agreements and individual rent rolls upon signature of the relatively standard “Non Disclosure Agreement.”<\/strong><\/span>\"\"<\/a><\/p>\n

^^ Abbey Studios Business Centre: 280 High Street Elevation ^^<\/strong><\/span><\/p>\n

On completion of renovation. Prior to tenants moving in (1-1-2022)<\/strong><\/span><\/p>\n

Based on the current rental income of \u00a31,357 per calendar month equating to \u00a316,284 per annum and on a purchase price of \u00a3180,000, this represents…<\/strong><\/span><\/p>\n

A Return on Investment (ROI) of <\/strong><\/span><\/h3>\n

9%<\/strong><\/span><\/h1>\n

The ground floor premises are currently assessed for business rates ZERO payable because of exemption. The nominal numbers are: \u00a38,700 (<\/b>here<\/a><\/span><\/span><\/strong>). Both the draft (<\/b>here<\/a><\/span><\/strong>) and proposed (<\/b>here<\/a><\/span><\/span><\/strong>) Non Domestic Business Rates (NDR) are indicated (on appeal) at \u00a36,700. Rates relief means NO business rates are due for the <\/b>foreseeable<\/b><\/span>\u00a0future.<\/b><\/span><\/p>\n

Currently the whole ground floor premises qualifies for 100% business rates relief and none of the owner’s tenants pay rates as the assessment is below the current \u00a315,000 trigger point.<\/strong><\/span><\/p>\n

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^^ Abbey Studios Business Centre: James Street Elevation ^^<\/strong><\/span><\/p>\n

On completion of renovation. Prior to tenants moving in (1-1-2022)<\/strong><\/span><\/p>\n

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^^ Abbey Studios Business Centre: James Street Elevation ^^<\/strong><\/span><\/p>\n

All of the offices were completely renovated after the owners purchased this building in March 2020. In spite of the Covid pandemic and with significant safety measures in place the trades team successfully carried out the extensive restoration. Once all the new roof works + rewiring + replumbing + heat and sound insulation + new fire grade doors\/closers + extra fire insulation and new fire alarm and CCTV system, along with fresh professional redecoration + new carpets etc., the full set of offices rented out remarkably fast.<\/strong><\/span><\/p>\n

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^^ Abbey Studios Business Centre: James Street Elevation ^^<\/strong><\/span><\/p>\n

The James Street Elevation is a significant length and contains 10\u00a0large plate-glass panels.<\/strong><\/span><\/p>\n

Prior to the tenants occupying the premise, a short video was made. Please note that small amounts of SNAGGING (minor cosmetic repairs) were due to be remedied at this point (which is part of the reason for taking a video recording BEFORE the tenants took up occupancy.<\/strong><\/span><\/p>\n