SHEPHERD Chartered Surveyors has announced the firm’s latest commercial property auction features a hotel investment opportunity and neighbouring former church, both in Annan, Dumfries & Galloway, for sale.
The two lots are among 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 letting bedrooms, additional former letting rooms and owners’ accommodation, a public bar, restaurant and function room, two beer gardens and 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 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 two-bed flats and five one-bed flats. It has a guide price of £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 auction involves the posting of various lots online for which the auctioneer invites pre-authorised buyers to post bids via a live broadcast.
