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1 Queen's Cross 8,515 SF Retail Building Aberdeen AB15 4XU $2,671,013 ($313.68/SF) 10.88% Cap Rate
Investment Highlights
- Outstanding single-let office and banking hall.
- Break option recently removed, providing 4.7 years unexpired.
- Passing rent of £225,250 per annum, reflecting £26.45 per sq ft.
- Long-term redevelopment potential.
- Strong tenant covenant, Clydesdale Bank plc T/A Virgin Money.
- Very low risk CreditSafe rating of 86A.
- 8,515 sq ft with an excellent car parking ratio of 1:266.
- Price - £1,950,000 exclusive of VAT, reflecting a net initial yield of 10.88%.
Executive Summary
Prestigious single-let office investment. 1 Queen's Cross is a prominent detached office building laid out over lower ground, ground, first and attic floors. To the rear of the property is a high quality modern extension fitted out to provide a banking hall with open plan office accommodation. The property benefits from 32 car parking spaces providing an excellent parking ratio of 1:266 sq ft.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Bank
Building Size
8,515 SF
Building Class
B
Year Built
1865
Price
$2,671,013
Price Per SF
$313.68
Cap Rate
10.88%
NOI
$290,524
Tenancy
Single
Building Height
3 Stories
Slab To Slab
12’
Building FAR
0.78
Lot Size
0.25 AC
Frontage
35’ on Queens Cswy
Amenities
- 24 Hour Access
- Security System
- Energy Performance Rating - B
- Storage Space
1 1
Nearby Major Retailers
1 of 8
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1 Queen's Cross
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