Prime commercial property for sale in Aberdeen’s West End

Discover the potential of Bishop House, a refurbished office building in Aberdeen's vibrant business district.

Overview of Bishop House

Located at 48-50 Carden Place, Bishop House stands as a testament to the architectural charm of Aberdeen’s West End. This double-fronted granite property, positioned directly across from Queens Cross Church, has been a focal point of the area since its redevelopment two decades ago.

The building features a modern three-storey extension at the rear, enhancing its functionality while preserving its historical essence.

Modern Amenities and Features

With a total area of 7,260 square feet, Bishop House offers open-plan office accommodation across its three levels, serviced by an eight-person lift.

The property has been extensively refurbished by its current tenant, Space Solutions, which recently secured a 10-year lease extension. The ground floor boasts a grand boardroom, complemented by various meeting rooms, making it an ideal setting for business operations.

Investment Potential

For investors, Bishop House presents an attractive opportunity with an 8% net initial yield, supported by a rental income of £170,610 starting in June. The property’s high energy performance rating and full air-conditioning add to its appeal, ensuring a comfortable working environment. Additionally, the large self-contained car park at the rear, accessible via Albert Lane, provides 20 parking spaces, a significant advantage in a bustling business district.

Market Insights and Future Prospects

Dan Smith, a Savills agent, highlights the changing landscape of commercial developments in Aberdeen’s West End. The area has evolved significantly since the 1980s, driven by the oil and gas industry’s expansion in the North Sea. However, the city planning department’s current stance on traditional granite and slate buildings suggests a cautious approach to further extensions. This makes Bishop House a unique prospect, as it has undergone substantial renovations and is situated in a prime location.

Conclusion

Bishop House is not just a property; it represents a strategic investment in one of Aberdeen’s most vibrant business districts. With its blend of historical charm and modern amenities, it stands out as a prime opportunity for investors looking to secure a reliable return on their investment. As the West End continues to thrive, properties like Bishop House will remain in high demand.