1 Queen's Cross 8,515 SF Retail Building Aberdeen AB15 4XU $2,849,389 ($334.63/SF) 10.10% Cap Rate
INVESTMENT HIGHLIGHTS
- Outstanding single-let office and banking hall
- Break option recently removed, providing 5.51 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 - £2,100,000 exclusive of VAT, reflecting a net initial yield of 10%
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
$2,849,389
Price Per SF
$334.63
Cap Rate
10.10%
NOI
$287,788
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 of 1
NEARBY MAJOR RETAILERS
Caffe Nero
