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Lot 9

EAST PORT HOUSE, 12 EAST PORT, DUNFERMLINE, KY12 7JG

Large Town Centre Office with Asset Management or Development Potential, Subject to Planning. 1,495 sq.m (16,090 sq.ft). Passing Rent of £88,961 pa.

Location

Dunfermline has a resident population of just over 50,000 persons and is the largest settlement in the Kingdom of Fife. It has a reported catchment area of 150,000 and numbers are swollen by tourists in the summer months. Dunfermline was once the capital of Scotland and historic records date back to the 11th century. Dunfermline Abbey is the burial place for many Kings and Queens including Robert the Bruce. The town is now better known for its service industry, with firms like Nationwide, Sky and Amazon employing large numbers in the area.

Located 4 miles north of the shores of the Firth of Forth and the new Queensferry Crossing, Dunfermline is well connected to a network of roads (M90) and rail to Edinburgh (20 miles away) Stirling (28) and Perth (30).

The premises occupy the block north of East Port, which is the eastward continuation of the High Street and James Street, which runs parallel to the North. There are secure entrances on both High Street and James Street and because of the topography, first floor at the High Street side becomes ground floor from the James Street entrance. The surrounding properties are mainly commercial, offices, shops and licenced premises. Neighbouring occupiers include Nationwide, Bank of Scotland and M&S in the Kingsgate Shopping Centre.

Description

This is a large brick building, with stone and glass façade, build around the 1960’s with an imposing frontage to the High Street. The offices have reception areas at both entrances, lift lobbies and the concrete floor-plates are predominantly open plan with stud–partition rooms. There are suspended ceilings with strip light panels, carpet tiles and textured wallpaper throughout. The original specification would have been impressive for its time but the building would benefit from some modernisation now.

There are asset management opportunities to re-gear the 6 month rolling lease to Canvas Holidays and to refurbish and re-let the vacant upper floor. Alternatively there may be an opportunity to convert to hotel or residential uses, subject to planning.

Accommodation

Approximate Net Internal Areas:

  • First Floor 415 sq m (4,467 sq ft)
  • Second Floor 452 sq m (4,865 sq ft)
  • Third Floor 290 sq m (4,198 sq ft)
  • Attic Floor 240 sq m (2,583 sq ft)

Planning

Interested parties need to put their own enquires to Fife Council’s Development Management Team at Kingdom House, Kingdom Avenue, Glenrothes. KY7 5LY or by telephone on 03451 55 11 22

Covenant

Canvas Holidays Limited, who have been tenants in the building since 2001, reported to Companies House last year that they had operating profits of £236,517 (and restated 2016 profits of £1,471,7750) on a turnover of £21,893,390 and stated assets of £13,196,395.

EPC

Available on request.

Tenure

Owner subject to the tenancy noted above.

Viewing

By arrangement with the Auctioneers, SVA Property Auctions Ltd Tel 0131 624 6640.

Rateable Value

Area Tenant Rateable Value
Ground and First Floor Canvas Holidays £64,250
Third and Attic Floors Vacant £50,250

Tenancy

Tenant Area Size sq m Rent pa Date of Entry Term Expiry Break Op ERV
Canvas Holidays First and second 865 £88,961 March 2001 6 mt rolling
Vacant Third floor 390 £0 £35,000
Vacant Fourth floor 240 £0 £20,000
Total 1,495 £88,961 £143,961



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