No. 50 let to Scottish Midland Co-operative Society Limited t/a Semichem
Nearby occupiers include Superdrug, Boots the Chemist, Burton, M&Co, Greggs and Santander
Asset Management Opportunities
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 89
Auction 30th March 2017
Rent
Status Sold
Price £163,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On behalf of KPMG as Joint Liquidators
Property Information
Location
Miles
48 miles south of Edinburgh, 61 miles north of Newcastle
Roads
A7, A68
Rail
Galashiels Railway Station
Air
Edinburgh International Airport
Situation
Hawick is a popular and historic town located in the Scottish Borders approximately 48 miles from Edinburgh. The property is prominently situated on the east side of the High Street, the town’s principal retail thoroughfare. Nearby occupiers include Superdrug, Boots the Chemist, Burton, M&Co, Greggs and Santander.
Tenure
Heritable. (Scottish Equivalent of English Freehold) .
Location
Miles
48 miles south of Edinburgh, 61 miles north of Newcastle
Roads
A7, A68
Rail
Galashiels Railway Station
Air
Edinburgh International Airport
Situation
Hawick is a popular and historic town located in the Scottish Borders approximately 48 miles from Edinburgh. The property is prominently situated on the east side of the High Street, the town’s principal retail thoroughfare. Nearby occupiers include Superdrug, Boots the Chemist, Burton, M&Co, Greggs and Santander.
Tenure
Heritable. (Scottish Equivalent of English Freehold) .
Description
The property comprises two adjoining ground floor retail units with ancillary accommodation on the first floors.
VAT
VAT is not applicable to this lot.
Note
This property is being marketed for sale on behalf of Joint Liquidators and therefore no warranties or guarantees in any respect, including VAT, can be given. The information
in these particulars has been provided by the Joint Liquidators to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Liquidators are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises two adjoining ground floor retail units with ancillary accommodation on the first floors.
VAT
VAT is not applicable to this lot.
Note
This property is being marketed for sale on behalf of Joint Liquidators and therefore no warranties or guarantees in any respect, including VAT, can be given. The information
in these particulars has been provided by the Joint Liquidators to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Liquidators are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
50
Ground First
Retail Ancillary
268.03 sq m 70.62 sq m
(2,885 sq ft) (760 sq ft)
SCOTTISH MIDLAND CO-OPERATIVE SOCIETY LIMITED (1) t/a Semi-Chem
5 years from 15/11/2011
£12,000
14/11/2017 (2)
52
Ground First
Retail Ancillary
347.00 sq m 145.90 sq m
(3,735 sq ft) (1,570 sq
VACANT
Total
831.55 sq m
(8,950 sq ft)
£12,000
(1) For the year ending 30th January 2016, Scottish Midland Co-operative Society Limited reported a turnover of £370,620,000, pre-tax profits of £5,446,000 and a total net worth of £67,220,000 (Source: Experian Group 22/02/2017) (2) Under Scottish law, the lease will continue year on year on the same terms and conditions until the next anniversary, which will be the 15th November 2017. If either the tenant or the landlord wish to terminate the lease, they must serve a notice to quit 40 clear days prior to the anniversary.