Shepherd’s latest commercial property auction features adjoining redevelopment opportunities

15/06/2023
Queensberry Arms Hotel

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/

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