Media Release: Shepherd offers rare residential investment with development potential in Peterhead, for sale


SHEPHERD Chartered Surveyors is offering a rare residential investment with development potential in Peterhead for sale.

The residential tenement containing nine flats is located at 57-61 St Peter Street within Peterhead town centre, a short distance to the north west of the main retailing area.

The surrounding area is mixed in nature with a number of residential properties together with commercial premises, including the bus station.

The main building comprises a substantial end terraced two-storey and attic height property. To the rear of the main building, there is an industrial building currently used as a builder’s yard. This section of the site could lend itself to a clearance to enable development to occur.

James Morrison, surveyor at Shepherd’s Aberdeen office, said: “Six of the flats are leased out on six monthly short assured tenancies, vacant possession can consequently be secured relatively quickly if required. A good level of demand exists for residential letting property in Peterhead and we consider that the remaining flats could be quickly leased.

“An opportunity exists to significantly increase the rents generated by the properties and we consider potential exists to generate a monthly rent in the region of £4,225.

“Further, the rear buildings could be separately let or redeveloped for a variety of purposes, subject to securing the required consents.”

Shepherd is inviting offers for its client’s interest in the property.


For further information please contact James Morrison on tel 01224 202800

Issued on behalf of Shepherd by Liquorice Media tel 0141 561 4018 www.liquorice-media.com

Date 14th March 2012

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