Schoolhill, Aberdeen, Aberdeenshire, AB10

Substantial Full Building
Residential / BTL / Serviced Accommodation / Hotel Potential
88,794sq ft
Planning Previously Granted
Price: o/o £650,000


Location

Aberdeen is Scotland's third largest city with a population of 220,000 and a regional catchment of 500,000. The city is globally recognised as the Energy Capital of Europe. The city is an internationally recognised business destination with excellent academic and research capabilities The city benefits from two highly regarded Universities. The properties are located to the north of Union Street on Schoolhill, a street that runs west to east between The two elements of the Bon Accord Shopping Centre.
Property

The Schoolhill building comprises a substantial 4 storey building benefitting from lift access to all levels. The Clarke Building is arranged over basement, ground and five upper levels. The buildings are situated in city centre zone which benefits from Aberdeen City Council's Affordable Housing Waiver and is opposite the city centre's first Build to Rent development.

Planning

Conditional Planning Permission was granted in 2015 for change of use of the buildings to create a 255-bed boutique hotel with restaurant, bar, function suite, meet space and gym. Full details of the historic permission can be found on Aberdeen City Council's planning portal reference 150513. Halliday Fraser Munro have undertaken a high level feasibility study which can be made available to interested parties

Area

The Clarke Building

Bsm: 1,103sqm (11,883sq ft)
Ground: 996sqm (10,721sq ft)
1st: 1,014sqm (10,915sq ft)
2nd: 1,014sqm (10,915sq ft)
3rd: 1,014sqm (10,915sq ft)
4th: 1,014sqm (10,915sq ft)
5th: 695sqm (7,481sq ft)

Total: 6,850sqm (73,721sq ft)

Schoolhill Building

Bsm: 297sqm (3,195sq ft)
Ground: 287sqm (3,088sq ft)
1st: 284sqm (3,062sq ft)
2nd: 293sqm (3,153sq ft)
Attic: 239sqm 2,575sq ft)

Total: 1,400sqm (15,073sq ft)

Courtyard

Between the buildings is an open courtyard area which can be used for car parking and servicing. The previous plans for boutique hotel proposed connecting both buildings by way of a new link building to be developed in the courtyard.

Total Size: 8,250sqm (88,794sq ft)

NAV/RV

The combined rateable value has been entered onto the valuation with the following sum;

£344,000

Price

The property is available on a freehold basis for offers over £650,000

V.A.T

V.A.T is applicable

E.P.C

Available on request

Legal

Each party shall bear their own legal costs incurred in the transaction

Title

Available on request

LBTT & Registration Dues

The tenant / purchaser shall be responsible for any LBTT or Registration Dues incurred in the transaction

Anti-Money Laundering

In order to comply with anti-money laundering legislation, the successful purchaser / tenant will be required to provide certain identification documents. The required documents will be confirmed to and requested at the relevant time