8/16 Horsemarket Kelso Roxburghshire TD5 7HA

8/16 Horsemarket
Kelso
Roxburghshire
TD5 7HA

Heritable Retail Investment

  • Entirely let to Mackays Stores Limited
  • Part sublet to WH Smith
  • Prominent location in Kelso, an affluent borders town
  • Nearby occupiers include Greggs, Lloyds TSB and Boots
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    35
  • Auction
    9th July 2015
  • Rent
    £60,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £464,000
  • Sector
    High Street Retail
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of a Trust
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Heritable Retail Investment

  • Entirely let to Mackays Stores Limited
  • Part sublet to WH Smith
  • Prominent location in Kelso, an affluent borders town
  • Nearby occupiers include Greggs, Lloyds TSB and Boots
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 35
  • Auction 9th July 2015
  • Rent
  • Status Sold
  • Price £464,000
  • Sector
    High Street Retail
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of a Trust

Property Information

Location
Miles
23 miles south west of Berwick-upon-Tweed, 43 miles south east of Edinburgh
Roads
A698
Rail
Berwick-upon-Tweed Station (Mainline)
Air
Edinburgh International Airport (45 miles north)
Situation

Kelso lies in the Scottish Borders, 43 miles south-east of Edinburgh and is a popular and historic market and tourist town. The property is situated in a prominent town centre location on the northern side of Horsemarket, close to The Square. Nearby occupiers include Boots, Greggs and TSB. There are many old established local traders in the town. There is unrestricted on street parking throughout the town centre.

Tenure

Heritable.

Location
Miles
23 miles south west of Berwick-upon-Tweed, 43 miles south east of Edinburgh
Roads
A698
Rail
Berwick-upon-Tweed Station (Mainline)
Air
Edinburgh International Airport (45 miles north)
Situation

Kelso lies in the Scottish Borders, 43 miles south-east of Edinburgh and is a popular and historic market and tourist town. The property is situated in a prominent town centre location on the northern side of Horsemarket, close to The Square. Nearby occupiers include Boots, Greggs and TSB. There are many old established local traders in the town. There is unrestricted on street parking throughout the town centre.

Tenure

Heritable.

Description

8/16 Horsemarket comprises a modern building planned over ground and first floors. Originally built as a supermarket the property provides a retail sales floor at ground floor with storage and staff accommodation at first floor.

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

8/16 Horsemarket comprises a modern building planned over ground and first floors. Originally built as a supermarket the property provides a retail sales floor at ground floor with storage and staff accommodation at first floor.

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Reversion
Ground
First
Retail
Ancillary
472.87 sq m
428.28 sq m
(5,090 sq ft)
(4,610 sq ft)
MACKAYS STORES LIMITED (1) (2) (t/a M&Co) 50 years from 26/08/1968 £60,000 29/09/2018 (3)
Totals  
901.15 sq m
(9,700 sq ft)
    £60,000

(1) Part of the property is sublet to Smiths News Trading Limited (t/a WH Smith) at a current subrent of £31,100 p.a. WH Smith have 600 High Street shops and a further 600 outlets in airports and rail stations throughout the UK. (Source: www.whsmith.com 16/06/2015) For the year ending 31st August 2014, Smiths News Trading Limited reported a turnover of £1,522,400,000, pre-tax profits of £43,300,000 and a total net worth of £570,500,000. (Source: www.riskdisk.com 16/06/2016) Further detail can be requested from the auctioneer.
(2)For the year ending 21/02/2014, Mackays Stores Limited reported a turnover of £158,289,000, pre-tax profits of £2,000 and a total net worth of £29,482,000 (Source:www.riskdisk.com 10/06/2015). M&Co trade from almost 300 stores throughout the UK with a staff of 3,500. (Source: www.mandco.com/corporate/our-history.html)
(3)The 29/09/2013 rent review remains outstanding.

Property Documents

  • Site Plan
    Updated Date
    16.06.15
    File Size
    79 KB
    View PDF
  • Catalogue Page
    Updated Date
    16.06.15
    File Size
    815 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Mhairi ArchibaldMhairi Archibald +44 (0)7718 899 341 Mhairi.archibald@acuitus.co.uk
Seller's Solicitors
Shepherd & Wedderburn 1 Exchange Crescent, Conference Square
Edinburgh
EH3 8UL
Michael Henderson 0131 473 5189Michael.Henderson@shepwedd.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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