Industrial for sale in 3 Riggs Place, Cupar KY15

Industrial Facility With Development Potential

Cupar has a resident population of approximately 9,000 and is one Fife’s principal towns. Dundee lies approximately 14 miles to the north, Perth 25 miles to the north west and Edinburgh circa 45 miles to the south. The town benefits from having a railway station providing easy access to the Scottish rail network and all major cities. Cupar is located on the A91 that connects to St Andrews to the east and the M90 to the west that in turn connects to the Scottish motorway system.

Riggs Place is located on the southern edge of town centre, opposite Cupar Retail Park. Occupiers in the vicinity include Tesco, B&M, Burger King and Costa Coffee.

Description

The subjects comprise a series of interconnecting industrial buildings with a separate office building to the front. The industrial units have been developed in phases and comprise an original brick element with pitched asbestos cement panel roof sections, whilst more modern additions are of steel framed
construction with profiled metal cladding.

The rearmost warehouse buildings were developed in the late 1980s on land that is held on a ground lease from Fife Council. The lease runs until February 2087 and incorporates an option for the tenant to extend the term beyond this for a further 25 years. The current ground rent is £6,000 per annum and is
subject to 5 yearly rent reviews. The heritable land and buildings are shown coloured pink on the plan below and the leasehold areas coloured blue.

The industrial buildings benefit from the following specification:
• Male and female toilet facilities
• Office accommodation
• 3 phase power supply
• Minimum eaves height of approximately 3.1 metres rising to 8.5 metres in high bay element.
• 2 dock height electrically operated roller shutter loading doors
• Rear service yard and parking area

The former 2 storey office building to the front of the site provides accommodation across a variety of cellular rooms. The property now requires some remedial work but may have scope for redevelopment for alternative use subject to receipt of the appropriate consents.