Ryden - Kircaldy, Scotland, Fife, Scotland

Date: 11 Aug 2010

Nightclub and other premises in Fife sold by Administrators.

On behalf of Johnston Carmichael, the administrators of Singlegold Ltd, Ryden has successfully sold five properties in Fife.

In Kirkcaldy, Logics Consulting Ltd acquired a retail unit occupied by Canterbury Bells at 58 High Street. The 740 sq ft unit - which has a one-bedroom and a three-bedroom flat above - was sold for £166,121. The flats are to be redeveloped by the new owner.

Bar 39, the former nightclub and snooker hall at 39 Broad Street, Cowdenbeath was purchased by a private individual for £162,000. The new owner plans to redevelop the 10,976 sq ft property.

Two properties in Lochgelly, 1-9 Plantation Street and 126-128 Main Street, were sold to another separate private individual for £95,000 and £60,000 respectively. The former is a 4,799 sq ft industrial unit, in which the purchaser plans to base the Eurpoean distribution hub for Alien Ocean, an electric bikes specialist. The latter is a 964 sq ft day care centre investment..

A vacant industrial unit at 11 High Street, Inverkeithing was sold for £42,300. The private investor plans to lease out the 387 sq ft property.

Will Biggart, surveyor at Ryden who handled the sales, said: "We are delighted to have sold all five properties within the Singlegold portfolio within a year of putting them on the market. The sales reinforce that demand still exists in the current market for property which is priced at market level."

All purchasers were unrepresented. Singlegold went in to administration in July 2009.

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