Shepherd’s latest commercial property auction features adjoining redevelopment opportunities in Annan for sale

Shepherd’s latest commercial property auction features adjoining redevelopment opportunities in Annan for sale

Shepherd Chartered Surveyors’ latest commercial property auction features a hotel investment opportunity and a neighbouring former church, both in Annan, Dumfries & Galloway, for sale.

The two lots are amongst 50 commercial properties and development land located across Scotland going under the hammer in a live-streamed auction on Thursday 22nd June.

Queensberry Arms Hotel on Annan High Street features 24 Ensuite letting bedrooms, additional former letting rooms and owners’ accommodation, a public bar, restaurant and function room, two beer gardens and large private car park.

The property is let to a private tenant, who took entry in 2019. The lease terminates in 2024 on a passing rent of £21,000pa. It has a guide price of £240,000.

The former Erskine Church is conveniently located on the western side of Bank Street, near to its junction with the High Street, and comprises a Category B listed, three-storey detached building. There is also private parking at the rear.

The building was previously granted planning permission for redevelopment into 11 residential flats. The scheme included six 2-bed flats and five 1-bed flats. It has a guide price £55,000.

Potential grant funding for residential redevelopment may be available via Dumfries & Galloway Council.

Robert Maxwell at Shepherd Chartered Surveyors said: “Whilst the Queensberry Arms Hotel and former Erskine Church are listed as separate lots and present attractive individual acquisition opportunities, the fact they are neighbouring properties creates potential for a substantial town centre redevelopment project.”

The online auction involves the posting of various lots online for which the auctioneer invites pre-authorised buyers to post bids via a live broadcast. This live broadcast will witness a significant level of competitive bidding as a number of the lots are already attracting widespread interest.

Interested parties should register at https://www.sdlauctions.co.uk/remote-telephone-proxy-bidding/

The online catalogue can be viewed here: https://www.shepherd.co.uk/auction-catalogue-june2023/

ENDS

For further information please contact Robert Maxwell on tel 01387 264333