INVESTMENT FOR SALE
34 Charlotte Street
Stranraer
DG9 7EF

Prominent Investment Opportunity
Passing Rent: £32,500 pa

Ground Floor: 1,466 sq ft
Purchase Price: Offers over £325,000 sought
Location

Stranraer is located on the south west coast of Scotland with the town situated some 45 miles south of Ayr and has a residential population in the region of 13,000 and a far wider catchment owing to a number of towns in the outlying region. Stranraer provides direct links via rail and road to the Cairnryan Ferry Terminal approximately 6 miles east which operates both P&O and Stena lines to Larne Harbour and Port of Belfast. The ferry terminal industry is the largest industry within Stranraer and the majority of the resident population are employed by this sector.
Nearby occupiers include Semichem, Card Factory, Farmfoods, Gordons Chemists and The Original Factory Shop.

Description / Accommodation

The subject property boasts a wide frontage onto Charlotte Street with three large glazed display windows. The unit is arranged over the ground floor of a three storey mid terraced traditional stone building with a pitched and slated roof. There is a single storey extension at the rear of the property which is constructed of brick and also held under a
pitched and slated roof. Internally, the subjects comprise an open plan space fitted out in Betfred’s corporate style to facilitate its use as a bookmaker. The property can be accessed directly from Charlotte
Street as well as from the rear via Harbour Street.
The premises are arranged over ground floor level and comprise the following approximate net internal area:
Ground Floor: 1,466 sq ft / 136.22 sqm

Tenancy

The property is let to Done Brothers (Cash Betting) Ltd t/a Betfred on a FRI Lease. The tenant has just renewed at the end of 2023 with the new expiry date now December 2033 at a rent of £32,500 pa. There is a tenant only break option in December 2028 subject to six months’ notice.

Proposal

We are instructed to seek offers over £325,000 exclusive of VAT for our client’s heritable interest. A purchase at this level would reflect an attractive Net initial Yield of 9.68% after standard purchasers costs.

Rates

Rateable Value: £15,100
UBR (2024/24): £0.498
Rates Payable: £7,520 pa

Planning / EPC

The premises benefit from having Class 1A consent. The subjects have an EPC rating of G.

Legal Costs

Each party to be responsible for their own legal and professional costs incurred in this transaction.  For the avoidance of doubt the ingoing tenant will be responsible for Land & Buildings Transaction Tax (LBTT), registration dues and any VAT payable thereon.

Anti-Money Laundering Regulations

In order to comply with anti-money laundering legislation, the successful tenant will be required to provide certain identification documents. The required documents will be requested at the relevant time.

INVESTMENT FOR SALE

34 Charlotte Street
Stranraer
DG9 7EF
Viewing strictly by appointment through ORINSEN

Tom Forster
T. 0131 374 1111
M. 07919 920 126
E. tforster@orinsen.com

Joe Stephenson
T. 0131 374 1111
M. 07580 519 431
E. joe@orinsen.com

Important Notice

ORINSEN, their clients and any joint agents give notice that:

They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise.  They assume no responsibility for any statement that may be made in these particulars.  These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact.

Any areas, measurements or distances are approximate.  The text, photographs and plans are for guidance only and are not necessarily comprehensive.  It is assumed that the property has all necessary planning, building regulations or other consents and ORINSEN have not tested any services, equipment or facilities.

Purchasers must satisfy themselves by inspection or otherwise.Unless otherwise stated all prices and rents are quoted exclusive of VAT. Prospective purchasers or lessees must satisfy themselves independently as to the incidence of VAT in respect of any transaction.

Published 30.09.20

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