Morrisons, 49-53 High Street, Banff, Banffshire, AB45 1AN

Description

Commercial investment property occupied by Morrisons supermarket, benefiting from strong customer footfall and surrounding established residential and commercial occupiers. The property is described as an established income-producing commercial asset with a national retail covenant and long-term income potential.

Accommodation

Large single storey supermarket with cash dispenser, trading as Morrisons Daily.

Location

Banff is a coastal town in the Banff and Buchan area of Aberdeenshire, Scotland, situated on Banff Bay. The surrounding area benefits from established residential and commercial occupiers. Banff has road and bus connections to surrounding towns and Aberdeen; the A98 and A947 provide road links.

Tenure / Property Information

Investment Analysis

Commercial supermarket investment offered at a £465,000 guide. The asset is occupied by Morrisons Daily under a stated lease to Alliance Property Holdings Ltd from 1 October 2023, with monthly rent and a year-five rent review, but the passing rent is not supplied. No completed sales, rental comparables, auctioneer rent estimate, tenure details or buyer/admin fee amounts are provided. Consequently, GDV, investment value, yield and maximum bid cannot be supported from the evidence.

Investment Snapshot

Strategy Recommendation

Treat as a commercial income investment only after verifying the passing rent, complete lease, tenant covenant, tenure, VAT position, property condition and all auction charges. Do not rely on the guide alone to set a bid.

Works Required

No specific repairs, alterations or refurbishment requirements are evidenced. The property should be assessed for condition, statutory compliance and lease-related obligations before purchase.

Rental & Market Context

Potential BRRR Position

A BRRR analysis is not supportable because the purchase cost beyond the guide, rent, refurbishment requirement, valuation/GDV, finance costs and buyer/admin fees are not provided. The property is an income-producing commercial asset rather than a clearly evidenced refurbishment opportunity.

Buy-to-Let Analysis

The property is already let and occupied, but the rent amount is not disclosed. A gross yield, income return or BTL affordability assessment cannot therefore be calculated. VAT applies, and the unspecified buyer premium and possible administration fees may materially affect total acquisition cost.

Flip Analysis

A flip analysis cannot be supported because there are no comparable sales, GDV evidence, works budget, selling-cost allowance or evidence of vacant possession. The existing commercial tenancy may also be relevant to resale value and buyer demand, but its detailed terms are not supplied.

Investor Risks & Due Diligence

• Passing rent is not disclosed, preventing yield and income assessment.

• Buyer premium and possible administration charges are unspecified.

• VAT applies and the total tax and transaction-cost position is not quantified.

• The lease is stated to end on 31/09/2033, an apparently invalid calendar date requiring documentary verification.

• No tenure, condition, EPC, statutory compliance or detailed lease obligations are supplied.

• The investment depends on the continuing occupation and covenant of Alliance Property Holdings Ltd trading as Morrisons Daily.

Recommendation

Treat as a commercial income investment only after verifying the passing rent, complete lease, tenant covenant, tenure, VAT position, property condition and all auction charges. Do not rely on the guide alone to set a bid.

Strategy Rating

Analysis Confidence

The property description and headline lease information are supplied, but rent, lease documents, tenure, comparables, condition, GDV and buyer/admin charges are absent.