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Lot 8

14-16 COMMERCE STREET, ELGIN, IV30 1BS

Two Storey Commercial Unit with Residential Conversion Potential for the Upper Floor – Current Income £9,000 p.a.

Location

Elgin is a long-established town of great character situated on the A96 trunk road linking Inverness (36 miles west) to Aberdeen (66 miles east). It has a good range of business and retail opportunities and is the main administrative centre for the Moray area. The property is situated within the town centre, in a busy street, leading south from the High Street. Commerce Street is situated at the east end of the pedestrianised section of the High Street and the property is on the east side of the street next to and partly above a branch of the TSB.

Description

The property comprises the ground and first floors of a traditional stone and slate roofed property. The front has an attractive parapet detail with stone carved decoration, with a pitched slated roof incorporating velux windows behind.

The accommodation is linked internally but also has separate doors to each floor from Commerce Street. The ground floor is currently occupied by a hairdressing business with the wash basins and cutting stations together with a small partition office in the front area. It has a false ceiling incorporating fluorescent strip lights with diffusers, a suspended timber floor with vinyl covering and walls have a papered or painted finish. There is a larger office/staff room to the rear, a WC and a corridor, with an under-stair cupboard, leading to a rear exit and a secure courtyard area. The boiler room, with a gas fired CH boiler which serves both ground and first floors, is at basement level and is accessed by a set of stone stairs from the courtyard area.

Stairs lead from a separate timber door, at pavement level, directly to a flight of stairs which provide access to the first floor. There is a good-sized storage cupboard and a WC at the half landing level and then a short flight of stairs brings you to the upper floor. This accommodation was last used as offices and has four main rooms, a kitchen/staff room and a toilet area with two cubicles.

The accommodation at first floor level is the whole width of the building and includes the area above the ground section occupied by the TSB. All rooms at this level extend into the comb ceilings, walls are finished with a painted woodchip wall paper and lighting is predominantly fluorescent strip lights with diffusers.

Windows to the front of the building are timber framed either single glazed display style at ground floor or velux style at first floor with upvc double glazed units to the rear.

Accommodation

Ground Floor:

Location sq.m. sq.ft.
Front Shop 31.11 sq m 335 sq ft.
Rear Office 13.79 sq m 148 sq ft.
Ground Floor Total 44.9 sq m 483 sq.ft.

First Floor:

All first floor rooms are measured into comb ceilings.

Location sq.m. sq.ft.
Office 17.43 sq m 188 sq ft
Kitchen 14.61 sq m 157 sq ft
Office 23.46 sq m 253 sq ft
Office 20.59 sq m 222 sq ft
Office 16.47 sq m 177 sq ft
1st Floor Total 92.56 sq m 996 sq ft

Planning

16 Commerce Street had planning consent for change of use to a multiple residential occupation property. The planning permission information, including layout plans can be view on Moray Council’s web site using the reference (13/00870/APP). Interested parties should make their own enquiries of Moray Council Planning and Building Standards Department Tel 01343 543451.

Rateable Value

Ground Floor - £9,300.

First Floor - £7,900.

The Small Business Bonus Scheme may provide 100% Business Rates Relief. Interested parties should make their own enquiries.

EPC

Band E.

Tenancy

The ground floor (14 Commerce Street) is currently leased to Anne Louise Morren (formerly Sutherland) T/a Annexe Hairdressing. Ms Morren’s lease was originally granted on 30th May 2011 and expired on 29/5/2016. The agreement has been renewed via a Minute of Extension and now terminates on 29/5/2022. The current rent is £9,000 p.a. and there are no reviews or break options. The original lease contains repairing and insuring provisions.

Tenure

Owner with Vacant Possession of the first floor and subject to the ground floor lease detailed above.

Viewing

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




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