Former Clydesdale bank premises in Thurso fail to sell
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THE former Clydesdale bank premises in Thurso town centre failed to find a buyer when it came under the hammer at a property auction.
Shaun Vigers, director and auctioneer at SVA Property Auctions, described the listed building in Traill Street as a "gem of an investment" and said its failure to sell was perhaps the auction's biggest surprise.
Local Highland councillor Matthew Reiss said: "Obviously it is disappointing. I think it is a prime town centre location and I hope there will be better news in the future.
"I am quite sure my colleagues will be discussing this and trying to see if there is anything else we can do."
Pointing to the very small number of vacant premises in Thurso, the councillor added: "I am quite surprised it did not get a buyer and very much hope that will change soon."
The former bank building was among the portfolio of 21 lots being offered by SVA Property Auctions in Glasgow.
Mr Vigers said: “This is a real gem of an investment in an ideal location for a residential conversion or for use as a serviced flat upstairs and decent office or retail space on the ground floor.
"Thurso has become a recognised stopping-off point on the increasingly popular North Coast 500 route, bringing thousands of visitors and their accommodation requirements to the area each year.
"The fact that this lot, priced at £130,000, is still available is perhaps the auction’s biggest surprise.”
Most of the properties that remained unsold following the auction were in the north of Scotland, where the market was described by the auctioneer as being particularly challenging.
While the level of interest in the run-up to the auction was indicative that these properties were going to struggle in the room, he had felt that the listed building in Thurso would manage to break through buyer resistance.
Mr Vigers added: "There’s no doubt that there’s an element of caution in the market and that was reflected in the auction room. Buyers are being highly selective with regard to investment decisions and sellers are postponing bringing properties to market until there is greater clarity over Brexit."
SVA Property Auctions sold 75 per cent of the 19 lots offered at its autumn auction and raised more than £500,000.
The next sale is on Thursday, November 28, in the Marriott Hotel, Edinburgh, although the former Clydesdale bank premises in Thurso has not yet been re-entered in the auction. It is still on the market and interested parties can find out more from SVA Property Auctions.
Built in 1866, the property extends over two floors. The ground floor was originally home to the Clydesdale bank, which shut its doors to customers in May 2017. Office accommodation was above the bank.
