THE ground rent investment in the St Giles Shopping Centre in Elgin is to be sold at the Acuitus auction on December 15th with a guide price of £1.15m.
The centre is located on a 1.95-acre site within the town’s pedestrianised High Street. The ground rent lease runs until 2139 at produces current annual income of £217,800.
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The auction also features the heritable ground rent investment in the Holiday Inn and Holiday Inn Express at Parkway East in Aberdeen which has a guide price of £1m.
Mhairi Archibald of Acuitus commented: “Ground rents are extremely popular with investors looking for long-term income secured on substantial properties.
“The St Giles Centre asset represents a major site in the popular market town and the Aberdeen lot is adjacent to former site of the AE Conference Centre Complex where planning consent for up to 500 homes has been granted.”
The Acuitus auction will take place on December 15th at 1.30pm and will be broadcast via livestream on the Acuitus website with bidding online, by telephone and by proxy. Further details here
