Abbey Studios
Rightmove: Updated Listing
Hi Rob, below this segment the new wording for 280. Hopefully a straight forward copy-and-paste.
Buddy, I am happy to put in a shift at the Rightmove coal-face if your weans are in a grump or derriere-aromatic situation. Am already keen to follow your lead and start deploying the Copilot AI, so Rightmove would be an easy enough thing to learn.
One very important point. The gross rental income on 280-Rightmove is currently quoted at £16,284 per annum. That was based on the solicitors. However, once they were evicted for non-payment of rent, both . Davie and I were keen fresh tenants into 280, so the new ones are getting a discount.
However, the potential buyer Sean is working from the £16,284 number, so I will ensure that…
=> Scotslion Ltd., subsidises the wedge from day 1 for Sean and make every year of the first 5 be £16,284 (£1,357 pcm).
But if Sean walks away, we must set the ROI at figures we know will work (as they have in Argyll since 1997 and Anglia many years before that (the first PLC here)…
8.5% in year 1, then
8.75% in year 2, with
9% in year 3, followed by
9.25% in year 4 and
9.5% in year 5.
with an option from Scotlsion Ltd., to renew for another 5 years at a 0.25% annual increase from 9.5% to 9.75% at the same annual rate.
It might not seem like a lot, but given the huge magnification effect that ROI % has on capitalisation value of the building, this is the difference between happily manageable and torture
With Sean it stays at £16,284 per annum FROM YEAR 1 (at 9.5%) and the SAME throughout 5 years with option to renew at 5 years (no increase, the second 5 years at 9.5% as Sean is getting the uplift in the value of the building.
If Sean walks away, then we start at 8.5% (half way through that year now 1-Jan 2024 to 31-Dec 2024).
Okay, here we go…
UPDATED RIGHTMOVE PAGE FOR ABBEY STUDIOS PLEASE…
Key features
- Fully Let Investment
- High Yield
- Solicitor Tenants
- Central location
- Opposite the Historic Arbroath Abbey
- Investment Opportunity
- Recent Full Renovation
- Full New Fire Safety and Security systems
Description
A fantastic investment opportunity in the heart of Arbroath, Angus, directly opposite the much visited historic Arbroath Abbey.
The premises being sold are the complete ground floor of offices (all with separately metered electricity supplies). This landmark premises is known as: Abbey Studios Business Centre. The property consists of six offices and a staff kitchen/rest-room plus modern WC and washroom facilities. The whole premises are leased to Scotslion Ltd., on a Full Repairing & Insuring (FRI) Head-Lease. Scotslion Ltd., is a business development company. It sublets each office to a spectrum of businesses. Ranging from new-start enterprises to fully functional established professional firms such as solicitors, dentists, physiotherapists, publishers etc. the sub leases are granted for periods ranging from 6 months to 3 years at the discretion of and as underwritten (rent guaranteed) by Scotslion Ltd.
This is a particularly helpful arrangement for a new property owner as any single office rental voids are covered by the Head Tenant. The new owner of this building will receive a monthly payment regardless of which businesses are long-term or short-term or transitional within the premises.
The current gross rental income for the owner is £16,284 per annum. The purchase guide for this building is £169,000. This property offers a 9.5% return on investment. The building also qualifies for 100% business rates relief, meaning no business rates are due for the foreseeable future.
This property has been professionally renovated. The building underwent extensive renovations in 2020, including roof work, rewiring, replumbing, heat and sound insulation, new fire grade doors and closers, fresh professional redecoration, new carpets and more. The building now fully complies with fire safety regulations and has a modern fire alarm system, plus CCTV security. The building features 10 large plate-glass window panels along the James Street elevation as well as a full-height window on the High Street side. Each room has been renovated with clean white painted walls, white ceiling and blue carpet. In addition, each office is separately metered for electricity usage and the building features a modern pin-number keypad access system. The solicitor firm utilise the keypad access entrance at 280 High Street. The Scotslion/Real Dragons’ Den businesses access their offices via the keypad security entrance at Number 1 James Street. Don’t miss this opportunity to own a piece of the historic town of Arbroath and take advantage of the excellent rental income!
Rightmove Listing For Abbey Studios: Click Here
***********
Earlier Narrative Before Solicitors Were Asked To Leave
OLD LISTING
Screenshots For Reference
Prior To 24-6-24
Rightmove Listing For Abbey Studios: Click Here
Please Note: Thee are screenshots for our archives, so the “click” buttons on each excerpt will not work. You will need to go onto the “live page to check out the “click here” buttons and also to watch the video (videos very much help our sales)…
Rightmove Listing For Abbey Studios ~ Working Buttons: Click Here
^^ This Is A Screenshot For Reference ^^
(The Buttons Will Not Work On A Screenshot)
