Abandoned offices and a former pumping station offer up opportunities for creative re-development
SVA Property Auctions, Scotland’s independent property auction company, will be hosting a further live-streamed auction on Wednesday 29th June at 2pm. The auction will continue to follow the successful format of bidding remotely via an on-line portal as well as traditional proxy bidding or telephone bidding.
The June auction is a portfolio of seven lots including three lots from well long standing clients Scottish Water as well as a lot from previously successful vendor, Queen’s & Lord Treasurer’s Remembrance.
One of the Scottish Water lots and first in the auction programme is a former pumping station building in Lochboisdale, South Uist. The property, which sits on a plot extending to 336 sq.m and is located two miles north of the ferry port and is accessed by a minor road which also serves an industrial unit and a few houses. Previously used as a pumping station for the local public water supply, the building has a flat concrete roof and timber door and sits adjacent to an industrial property. Says Shaun Vigers, SVA director and auctioneer: “We have sold dozens of similar pumping stations for Scottish Water in the past and many of the vendors have used the building and surrounding area for cost-efficient storage purposes. We are guiding this lot at £10,000.”
Another auction highlight is a former office and storage premises on Main Street, Loans, near Troon. The property, which sits on a plot of 126 sq. m is a detached, single storey building facing onto Main Street with double leaf timber doors in the north gable. It is currently configured to provide a small office/reception area, a larger open plan office, a storage area, kitchenette and toilet. The property, which is being offered at auction by QLTR is in poor condition and has received some attention from vandals. However, the building and surrounding ground have the potential to be comprehensively refurbished to provide useful office and storage space with surrounding ground for parking. Given the renovation work required, the lot is being guided at £50,000, creating a very interesting investment opportunity for a local business. Subject to obtaining planning consent, the lot may also provide an opportunity for residential redevelopment.
A rare opportunity to buy a residential development site with a previous consent for 37 houses is another of the June lots likely to stir considerable interest. Located at Spruce Gardens, Cupar Muir, just a mile from Cupar, the site was the location of a sawmill until 2000 and in 2007 planning permission was obtained for the development of 37 houses across the 7.48 acre site. The sawmill buildings have been removed but some foundations constructed for the originally conceived development remain. The majority of the site is flat and is currently partly overgrown by gorse and scrub and the boundary to the north and east is mainly formed by mature trees. Says Vigers: “Whilst there is a chance the previous consent dating back to 2007 may still be live, it is unlikely a developer would adopt the same scheme and there will be a need for a fresh application. However, given the fact that there is an allocation for housing in the local plan, I am confident that a buyer would have a reasonable expectation of achieving new planning consent for a re-imagined scheme. We have set the guide price at £380,000 to £400,000 and given the site’s location in such an attractive and sought-after area of Fife, we are looking forward to some enthusiastic bidding.
This is the final auction before the summer break. The next auction of the 2022 programme will take place on 21st September.
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For further information, please call Shaun Vigers, SVA Property Auctions on 07979 367393