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Press Release


November 2018








Another former bank premises offers potential for re-development


SVA Property Auctions, Scotland’s independent auction service, will be putting 21 lots under the hammer on Thursday 22nd November at the Edinburgh Marriott Hotel.


The November auction is the final auction in the 2018 auction programme and follows on from the early Autumn auction which achieved total sales just short of £2million, a disposal rate of 77% and a particularly successful sale of 12 out of the 14 redundant bank branches being offered.


Perhaps the jewel in the crown for the auction room this month is the KDM Business Centre at Wellington Circle, a modern industrial and commercial estate just three miles from Aberdeen’s city centre. The property extends over 3,000 sq metre on a 1.6 acre site with ample parking and has been purpose built as a business and conference centre. There is however, plenty of flexibility to sub-divide areas into self-contained office units for letting purposes.


Says Shaun Vigers, SVA Property Auctions director and auctioneer: “This is a rare opportunity to acquire a purpose-built facility in a strategic location in walk-in condition. There are even computers sitting on the desks ready to be fired up. However, the property was empty last winter and I am keen to get the property occupied before this winter. The Autumn sale gives us a window of opportunity to do a deal that will not only realise the business potential of the site, but that will breathe new life into the building and into the local commercial community. To that end, we are prepared to use this last Autumn auction window to offer our very best guide price of £500,000.”


Another quite different auction highlight is the three bedroom flat in the historic Fife village of  Strathmiglo. 11 miles from Cupar and 20 miles from St Andrews, Strathmiglo has schooling, shops, churches and a 9 hole golf course. The property, which was built in the 1850s is an apartment on the upper floors above retail premises and has gas central heating and wall mounted radiators. Whilst the property is in need of an upgrade and modernisation, it has the potential to provide attractive, spacious accommodation in a sought-after village. Says Vigers: “With a little bit of TLC this property could be a very real find for someone, especially as there is a good chance of bidding settling at around £55,000.”


To date in 2018 SVA has successfully sold 24 former bank premises, snapped up for retail or office use or with a view to applying for planning consent to change the use to a restaurant. This month’s former bank premises on the High Street in Annan also offers the attractive potential of a range of alternative uses. Annan’s C-listed former bank premises occupies the ground floor of an attractive two storey 19th century red sandstone building and has garden ground providing parking. The accommodation comprises office, staff, cash and interview rooms, store room and staff toilets. The property is being guided at between £75,000 and £80,000.


Shaun Vigers is confident that the lots in the November auction will sell well.  He says: “The November auction illustrates the diversity of the properties being auctioned and I am pleased to be able to offer development opportunities, residential properties, office spaces and licensed premises. Some require upgrading or change of use, some offer scope for creative re-development and some are in walk-in condition. We have found, over the years that this is the kind of auction that buyers like and we are looking forward to seeing a room full of investors, entrepreneurs, seasoned auction attendees and new faces ready for an opportunity or a challenge.”


The next SVA Property Auctions sale will take place at 2pm on 28th February also at the Edinburgh Marriott Hotel.





For further information, please contact Shaun Vigers, SVA Property Auctions on 0131 624 6640.

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