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Main Category : All Auction Property
Additional Category : Fife Property
   Dunfermline - Commercial & Residential - Estimated Comp; Value: 1,270,000 GBP Auction ID : 103681   
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Dunfermline - Commercial & Residential - Estimated Comp; Value: 1,270,000 GBP

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Current Bid -
Start Bid GBP 595,000.00 [ Convert ]
Quantity 1
# Bids 0
Location KY12 7AW, Fife
Country United Kingdom
Time Left 19 days, 0h 14m
Start Time 15 Jun. 2017 06:39:15
End Time 13 Jul. 2017 06:39:15
Status Open
Make Offer
Reserve Price Not Met
High Bid No Bids

Description
SORRY NOW SOLD - STC
Chapel Street
Dunfermline
KY12 7AW
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Location Map: CLICK HERE
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Estimated Future Value: £1.27 Million

Starting Bid: £595,000

Bid Increments: £1,000

Special Conditions: See below
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Important - Please Note: 0131 Auction incorporates an 'Anti Sniping' Feature - If a new bid is received within the last five (5) minutes of auction end time then the auction bidding will automatically be extended for a further five minutes, from the time which the last bid is received, until no more bids have been placed.

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Special Conditions available to this lot are as follows:-

This seller will consider taking another property in 'part exchange' against this Lot.

No money down purchase available - The purchaser may delay full purchase for up to 5 years via our unique 'option to purchase contract' available at terms of only base rate +4% per annum of the agreed purchase price. If finance is required to purchase then this option could work out much cheaper and less problematic.

Please Email for more information.




An excellent Large mixed commercial & residential property situated within the historic town of Dunfermline city centre:-
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  • Part Ground Floor - 35 m2 or 376 sq/ft @ 3.5m High
  • Open Plan 1st Floor Area 1 - 56 m2 or 602 sq/ft @ 3.5m High
  • Open Plan 1st Floor Area 2 - 124 m2 or 1333 sq/ft @ 3.5m High
  • Open Plan 2nd Floor Area 1 - 56 m2 or 602 sq/ft @ 4.2m High
  • Open Plan 2nd Floor Area 2 - 124 m2 or 1333 sq/ft @ 4.2m High
  • Top Floor x1 Bedroom Flat - 56 m2 or 602 sq/ft
  • Top Floor x3 Bedroom Flat - 124 m2 or 1333 sq/ft
  • x2 Concrete Stair Cases From Ground To Top Floors
  • Additional Storage/ Toliet Areas - 30 m2 or 322 sq/ft
  • Total Floor Area 605 m2 or 6503 sq/ft (Excluding stairs & landings)

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Substantial prominent building situated within the historic town of Dunfermline city centre.


Within the last few years the buildings external fabric, including roof & windows has been completely refurbished at a substantial cost. The internal aspects of the building have been stripped back to shell and therefore require reinstatement.


This property is situated between the newly completed Dunfermline Bus Station and the Tesco’s Superstore which has recently been constructed within the former Thompsons World of Furniture site adjacent.


Presently part commercial and residential. Subject to planning this property could be either retained as present use or changed to completely commercial or residential uses.


One way forward to maximize profit may be to convert the building to a Home Improvement Center incorporating complementary companies selling kitchens, bathrooms, conservatories, double glazing, flooring, tiling etc. In doing so this would attract the large amount of passing foot-fall customers to a ‘one stop shop’ in order to facilitate their entire home improvement needs under one roof. The varied companies renting floor space would also benefit from one shared advertising budget. This may be a route the new owner wishes to pursue.


The anticipated gross rentals received following completion are as follows:-


Commercial Aspects (4246 sq/ft) - @ £15 per sq/ft per annum - £63,690.00 (£5,307.50 P.M.)

Residential Aspect - x1 Bedroom Flat per annum - £5,400.00 (£450.00 P.M.)

Residential Aspect - x3 Bedroom Flat per annum - £7,200.00 (£600.00 P.M.)


Total Rental Per Annum: £76,290.00


Estimated Cost To Complete Renovation: £100,000 - This amount includes both materials & contractor labour costs. This amount would be much less if you did not have to pay for all labour costs by doing some labour yourself.


Total purchase & renovation costs of £700,000 would achieve an annual yield in excess of 10.89%.


Based upon the above anticipated rental amounts and an investor looking to achieve a 6% annual yield the re-sell property value would stand at around £1.27 Million.



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These particulars do not form part of an offer and all statements contained herein are believed to be correct but are not guaranteed and any intended purchaser must satisfy themselves as to their accuracy. The dimensions provided may include, or exclude, recesses intrusions and fitted furniture. They have been chosen to indicate the general size and shape of each room. Any detailed measurements ought to be taken personally.
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Dunfermline - Commercial & Residential - Estimated Comp; Value: 1,270,000 GBP
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Dunfermline - Commercial & Residential - Estimated Comp; Value: 1,270,000 GBP

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