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Description & location
Thurso is the main town in the north of Scotland, and the administrative centre for Caithness and the north coast. It has a resident population of approximately 9,000, and has a broad range of amenities and facilities including secondary and tertiary education, a range of town centre retail property, business and industrial parks, and is adjacent to the ferry port of Scrabster, serving the Orkney Islands and the oil industry. Thurso is also approximately 8 miles east of Dounreay Nuclear Power Station, and derives a great deal of business from the ongoing decommissioning works. Inverness, the Highland capital, is 110 miles south.
The property is located within the Pennyland Housing Estate, on the western outskirts of Thurso, approximately a half mile from the town centre. Surrounding properties are predominantly residential in nature with a sports ground located to the rear. The subjects consist of a linked two storey building providing office accommodation on ground and first floor. On two sides the property is linked with adjoining residential dwellings. It is understood the subjects were originally built in the 1960’s as an apprentice hostel for Dounreay and were subsequently converted by the local authority to a care home. In 2002 the property was completely refurbished and converted to its current use. As a business centre it provides furnished offices of various sizes, meeting rooms with catering and business services.
The subjects have been measured in accordance with the RICS Code of Measuring Practice to provide the following accommodation:
Ground floor Entrance Conservatory - 21.85 sq m (235 sq ft) Offices - 234.57sq m (2,525 sq ft) Stores - 21.51 sq m (232 sq ft) Kitchen - 12.75 sq m (137 sq ft) Dale Suite - 20.25 sq m (218 sq ft)
First floor Offices / Kitchen / Meeting Rooms - 254.3 sq m (2,737 sq ft) Stores - 23.42 sq m (252 sq ft) total 780.3 sq m (8,399 sq ft)
Mains water, drainage and electricity are connected. Heating is provided by a series of electric storage heaters and panel heaters. Lighting is generally provided by fluorescent fittings. In addition the subjects benefit from superfast broadband and a fully dda Compliant 8 person lift.
Rates will be the responsibility of the owner.
The property has an EPC rating of E+. A copy of the Energy Performance Certificate is available on request.
Business & redevelopment potential
The subjects offer an opportunity to purchase attractive office premises suitable for owner occupation with an established rental income in place and asset management potential for a proactive owner. The occupancy of the building is currently sitting at over 70% with nett earnings approaching £40,000 per annum. In its current state it represents a potential yield of almost 20%. Furthermore, owing to the residential property surrounding the subjects there is potential for residential redevelopment of the property, subject to consent.
Our client will consider offers over £195,000 to purchase the entire building with the benefit of the existing income from the business centre. Existing tenants within the business centre include Caithness Chamber of Commerce, Harper & Macleod, Navertech, Clark Thomson Insurance Brokers, Cavendish Nuclear and Morson Projects. A full tenancy schedule is available to interested parties.
Legal costs & stamp duty
Each party will be responsible for their own legal costs and the purchaser will be responsible for applicable stamp duty.
For more information about this property, please contact Allied Surveyors Scotland, G20 on +44 141 376 8258 * (local rate)
Contact Allied Surveyors Scotland about this property
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Allied Surveyors Scotland, and do not constitute property particulars. Please contact Allied Surveyors Scotland for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.