Rymans has recently extended the lease by a further 5 years
Tenant in occupation since at least 1994
Prominently situated on the pedestrianised High Street
Nearby occupiers include Debenhams, Iceland, Starbucks and the Royal Bank of Scotland
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 73
Auction 7th July 2016
Rent £40,000 per Annum Exclusive
Status Sold
Price £278,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
On behalf of Insolvency Practitioners Deloitte
Property Information
Location
Miles
34 miles west of Carlisle, 77 miles south of Glasgow
Roads
A75, A709, A74(M) (Junctions 17 & 18)
Rail
Dumfries Railway Station
Air
Carlisle Airport
Situation
The property is very well situated on the pedestrianised High Street. Nearby occupiers include Debenhams, WH Smith, Superdrug, Starbucks, Iceland, Paddy Power and RBS.
Tenure
Heritable. (Scottish equivalent of English Freehold).
Location
Miles
34 miles west of Carlisle, 77 miles south of Glasgow
Roads
A75, A709, A74(M) (Junctions 17 & 18)
Rail
Dumfries Railway Station
Air
Carlisle Airport
Situation
The property is very well situated on the pedestrianised High Street. Nearby occupiers include Debenhams, WH Smith, Superdrug, Starbucks, Iceland, Paddy Power and RBS.
Tenure
Heritable. (Scottish equivalent of English Freehold).
Description
The property comprises a two storey building with retail sales at ground floor with ancillary and storage at first floor.
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale on behalf of Insolvency Practitioners and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided to the best of their knowledge but the
purchaser must rely solely upon their own enquiries. The Insolvency Practitioners are acting 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 a two storey building with retail sales at ground floor with ancillary and storage at first floor.
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale on behalf of Insolvency Practitioners and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided to the best of their knowledge but the
purchaser must rely solely upon their own enquiries. The Insolvency Practitioners are acting 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
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
Ground First
Retail Ancillary/Storage
176.20 sq m 115.80 sq m
(1,897 sq ft) (1,246 sq ft)
RYMAN LIMITED (1)
10 years from 05/04/2010 on a full repairing and insuring lease (2)
£40,000
04/04/2020
Totals
292.00 sq m
(3,143 sq ft)
£40,000
(1) Ryman was established in 1893 and now trades from 220 stores throughout the UK as well as online. (Source: www.ryman.co.uk). For the year ending 28th March 2015, Ryman Limited reported a turnover of £131,005,000, a pre-tax profit of £7,918,000 and a net worth of £44,489,000. (Source: Riskdisk 06/06/2016) (2) The property was let for a term of 5 years from 5th April 2010 expiring 4th April 2015 at a rent of £40,000. By way of a deed of variation registered in the Books of Council and Session on 7th April 2015, the lease was extended so that the lease now expires on 4th April 2020, with a tenant option to determine on 4th April 2018 (on 6 months’ prior written notice). If the break option is exercised, the tenant is obliged to pay a penalty of £10,000 to the landlord. The lease is subject to a schedule of condition.
