Prominent position on the pedestrianised High Street to be let to River Island Clothing Co. Limited on a new 5 year lease
Nearby occupiers include Marks and Spencer, Next, Bank of Scotland and Costa Coffee
Close to the Bus Station and town centre car parks
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 85
Auction 7th July 2016
Rent £60,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
Property Information
Location
Miles
28 miles north-east of Edinburgh, 18 miles east of the Forth Road Bridge
Roads
A92
Rail
Kirkcaldy (40 minutes to Edinburgh Waverley)
Air
Edinburgh Airport (26 miles south)
Situation
Kirkcaldy has a population of approximately 50,000 and a catchment of 150,000 from east Fife. The town is the second largest town in Fife and benefits from excellent accessibility from the A92 liking with the A90 south to Edinburgh and north to Perth.
The new road bridge, the Queensferry Crossing, which will link Fife with Edinburgh and the south, is due to open in May 2017.
The property is well located on the pedestrianised part of the High Street. Neighbouring occupiers include Marks and Spencer, Next, New Look, Costa Coffee and Bank of Scotland.
Tenure
Heritable. (Scottish equivalent of English Freehold).
Location
Miles
28 miles north-east of Edinburgh, 18 miles east of the Forth Road Bridge
Roads
A92
Rail
Kirkcaldy (40 minutes to Edinburgh Waverley)
Air
Edinburgh Airport (26 miles south)
Situation
Kirkcaldy has a population of approximately 50,000 and a catchment of 150,000 from east Fife. The town is the second largest town in Fife and benefits from excellent accessibility from the A92 liking with the A90 south to Edinburgh and north to Perth.
The new road bridge, the Queensferry Crossing, which will link Fife with Edinburgh and the south, is due to open in May 2017.
The property is well located on the pedestrianised part of the High Street. Neighbouring occupiers include Marks and Spencer, Next, New Look, Costa Coffee and Bank of Scotland.
Tenure
Heritable. (Scottish equivalent of English Freehold).
Description
The property comprises a three storey terraced building with retail sales at ground and first floors. At second floor there is additional storage and staff and ancillary accommodation.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a three storey terraced building with retail sales at ground and first floors. At second floor there is additional storage and staff and ancillary accommodation.
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 Second
Retail Retail Ancillary
286.60 sq m 137.95 sq m 73.85 sq m
3,085 sq ft 1,485 sq ft 792 sq ft
RIVER ISLAND CLOTHING CO. LIMITED (1)
5 years from June 2016 on a full repairing and insuring lease (2) (3)
£60,000
June 2021
Total
498.13 sq m
5,362 sq ft
£60,000
(1) River Island Clothing Co. Limited have been trading on the high streets of the UK for the last 60 years. They have approximately 350 stores across the UK, Ireland and internationally. For the year ending 27th December 2014, River Island Clothing Company Limited reported a turnover of £890,400,000, a pre-tax profit of £145,800,000 and a net worth of £279,600,000. (Source: Experian Group 10/06/16) (2) The lease will be put in place to commence from completion of the sale. (3) The lease provides a tenant’s option to determine on the third anniversary of the term, subject to 6 months’ notice.