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Lot 18

431 HIGH STREET, COWDENBEATH, KY4 9QW

Retail Investment with Residential Development Potential on Upper Floors – Current Income £8,000 p.a.

Location

Cowdenbeath is located in west central Fife some 5 miles east of Dunfermline, 4 miles west of Kirkcaldy and 18 miles north of Edinburgh. The town has a resident population of circa. 12,000 and also serves a wide catchment area. It is well served with the usual local amenities and there are 3 primary schools, a secondary school and a leisure centre serving the town. The A92 links the town to the A90/M90 allowing easy access to the motorway network and Central Belt. There is a railway station with regular services to Edinburgh. The property is located in a prominent position at the southern end of the High Street at its junction with Broad Street, close to local shopping facilities including a nearby Morrisons Supermarket.

Description

The property comprises an end of terrace ground, first floor and attic property of stone construction under a pitched and slated roof. Internally, the ground floor retail accommodation comprises a spacious sales area incorporating a kitchen area and large window display, office, store room, and w.c. This floor benefits from fluoresent lighting and air conditioning units. The first and attic floors, which are now in need of refurbishment, can be accessed via steps at the rear of the property. The first floor comprises six individual rooms and toilet, with stairs leading to the attic which comprises three rooms. There is some restricted on street parking available and further parking available within the vicinity. This is a well placed unit within a busy central area, ideal for the purposes of the proposed development or a variety of uses subject to any necessary revised planning consent.

Retail Accommodation

Location sq.m. sq.ft.
Main Sales Area incl. kitchen 101.1 sq.m. 1088 sq.ft.
Office 8.6 sq.m. 93 sq.ft.
Store 51.7 sq.m. 556 sq.ft.
Total (excl. toilet/meter room) 161.4 sq.m. 1737 sq.ft.

First Floor/Attic Accommodation

Location sq.m. sq.ft.
First Floor 101.4 sq.m 1091 sq.ft
Attic 49.6 sq.m 534 sq.ft
Total (excl.toilet) 151.0 sq.m 1625 sq.ft

Tenancy

The ground floor retail unit is let to Hazel Anderson at a rent of £8,000 p.a. to be payable quarterly for a period of 10 years from 1/5/2017 expiring 31/4/2027. The lease includes repairing and insuring provisions and there is also provision for the rent to be reviewed every 5 years and for the tenant to break the lease at year 3 or at year 5. The lease is subject to a schedule of condition dated 16 February 2017. We recommend that interested parties inspect the lease which is available as part of the Seller’s solicitors title pack.

Tenure

Owner Vacant Possession.

Planning

Full planning permission was granted for change of use of the 1st and 2nd floor to three flatted dwellings, 17 November 2015 Ref: 15/02662/FULL. Please refer to Fife Council planning portal for further details: planning.fife.gov.uk/online Planning Economy, Kingdom House, Kingdom Avenue, Glenrothes KY7 5LY Email: development.central@fife.gov.uk Tel: 03451 551122.

Rateable Value

Ground Floor - £11,000
First Floor and Attic - £1,100.

EPC

Band G

Viewing

Strictly by arrangement with the Auctioneers SVA Property Auctions Ltd: 0131 624 6640.




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