Part let to Sportswift Limited t/a Card Factory until 2023 (subject to option)
Comprises two ground floor retail units with selfcontained office accommodation on the upper floors
Prominent corner position on pedestrianised High Street
Nearby occupiers include Holland & Barrett, Boots the Chemist, Starbucks, WH Smith, Vodafone and Specsavers
Asset Management Opportunities
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 83
Auction 30th March 2017
Rent £44,750 per Annum Exclusive
Status Sold Prior
Price
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
40 miles east of Inverness, 65 miles north-west of Aberdeen
Roads
A96, A941
Rail
Elgin Railway Station
Air
Inverness Airport
Situation
Elgin is the principal town and administrative centre of Moray, benefiting from a large catchment area and a significant tourist draw due to the popular whisky distilleries located nearby. The property is situated in a prominent corner position on the pedestrianised High Street which, along with the St Giles Shopping Centre, forms the main retailing focus of the town. Nearby occupiers include Holland & Barrett, Boots the Chemist, Starbucks, WH Smith, Vodafone and Specsavers.
Tenure
Heritable. (Scottish Equivalent of English Freehold) .
Location
Miles
40 miles east of Inverness, 65 miles north-west of Aberdeen
Roads
A96, A941
Rail
Elgin Railway Station
Air
Inverness Airport
Situation
Elgin is the principal town and administrative centre of Moray, benefiting from a large catchment area and a significant tourist draw due to the popular whisky distilleries located nearby. The property is situated in a prominent corner position on the pedestrianised High Street which, along with the St Giles Shopping Centre, forms the main retailing focus of the town. Nearby occupiers include Holland & Barrett, Boots the Chemist, Starbucks, WH Smith, Vodafone and Specsavers.
Tenure
Heritable. (Scottish Equivalent of English Freehold) .
Description
The property comprises a ground floor retail unit and ground floor restaurant with self-contained office accommodation on the first and second floors. No. 159 High Street benefits from a return frontage to North Street.
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 a ground floor retail unit and ground floor restaurant with self-contained office accommodation on the first and second floors. No. 159 High Street benefits from a return frontage to North Street.
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
157
Ground
Retail/Ancillary
202.30 sq m
(2,178 sq ft)
SPORTSWIFT LIMITED (1) t/a Card Factory
10 years from 09/09/2013 (2)
£44,750
08/09/2023
159
Ground
Restaurant/ Ancillary
151.00 sq m
(1,625 sq ft)
VACANT
157-159
First Second
Office/Ancillary Office/Ancillary
271.40 sq m 65.70 sq
(2,921 sq ft) (707 sq ft)
VACANT
Total
690.40 sq m
(7,431 sq ft)
£44,750
(1) For the year ending 31st January 2016, Sportswift Limited reported a turnover £362,226,000, pre-tax profits of £92,210,000 and a total net worth of £80,967,000 (Source: Experian Group 27/02/2017). (2) The lease is subject to a tenant option to determine on 9th September 2018, subject to six months’ prior notice.
