Britton Property.
Development Site For Sale
Ruby House, Ruby Lane, Aberdeen AB10 1ZP
Substantial Building with planning for conversion for 59 apartments
4 Storey Development / Private Car Park City Centre Location
Site Area: 0.87 acres
Sale: o/o £375,000
Viewing strictly by appointment with BRITTON PROPERTY
Andrew Britton
T. 07990 505 421
E. andrew@brittonproperty.co.uk
Ruby House is located in a mixed residential and business location in the heart of Aberdeen City Centre in close proximity to the newly refurbished Union Terrace Gardens. It is around 250m to the north of Union Street, the main retail thoroughfare within Aberdeen. The location of the property allows for easy access to all the amenities contained within the City Centre including schooling, shopping and various cultural venues including a theatre, art gallery and library all within 500m of Ruby House. Ruby House is within the catchment for Gilcomstoun Primary School, and Aberdeen Grammar School for secondary education.
Aberdeen is considered the Energy Capital of Europe and is Scotland’s third city with a population of circa 225,000 and a catchment in excess of 500,000. The city has a thriving student population, in the region of 22,000, being home to two universities. 47% of the city centre population is aged between 26 and 40. In recent times Aberdeen has seen a 50% reduction in available rental properties resulting in a significant 13% rise in rentals between Q1 2022 and Q2 2023 (Citylets).
Built in 1979, Ruby House forms a four storey, L shaped detached office building of concrete construction along with 36 no car parking spaces. The development opportunity is a rare and welcome commodity within the City Centre. Ruby House and the car parking are accessed from Ruby Lane and the entire site extends to approx. 0.35 ha (0.87 acres).
Detailed Planning Permission (220346/DPP) was granted by Aberdeen City Council for the conversion of Ruby House from office accommodation to 59 residential apartments on 29th November 2022. The 59 flats would comprise 37 1-bed units and 22 2-bed units. Consent was granted subject to certain conditions. Full information regarding the planning consent can be obtained from the selling agents or via the planning portal on Aberdeen City Councils website:
A Section 75 Agreement has been completed and registered relative to the proposed conversion of Ruby House to residential accommodation. This requires the developer to contribute the sum of £1997.09 per unit to Aberdeen City Council for the delivery of Community Facilities, Core Paths, Healthcare and Open Space. The site is within the City Centre Conservation Area.
The premises extend to the following net internal areas:
Ground Floor: 10,157 sqft (943.61sqm)
First Floor: 10,157 sqft (943.61sqm)
Second Floor: 10,157 sqft (943.61sqm)
Third Floor: 10,157 sqft (943.61sqm)
The Heritable Interest in Ruby House is being offered for sale with Vacant Possession.
Offers over £375,000
On application.
Each party to be responsible for their own legal and professional costs incurred in this transaction. For the avoidance of doubt the ingoing tenant will be responsible for Land & Buildings Transaction Tax (LBTT), registration dues and any VAT payable thereon.
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