Entirely let to Poundland Limited until 15th November 2025
Prominent corner position on the High Street
Nearby occupiers include Clydesdale Bank, Starbucks, Boots Opticians, Card Factory and TK Maxx
Lease just extended by 6 years
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 40
Auction 19th May 2016
Rent £80,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
40 miles east of Inverness, 65 miles north west of Aberdeen
Roads
A96
Rail
Elgin Station (ScotRail) 50 minutes to Inverness
Air
Inverness Airport
Situation
The property is situated in a prominent corner location on the northern side of the High Street at its junction with North Street. This section of the High Street, along with the St Giles Shopping Centre, forms the main retailing focus of the town. Nearby occupiers include Starbucks, Card Factory, Clydesdale Bank, TK Maxx and Boots Opticians.
Tenure
Heritable. (Scottish Equivalent of English Freehold)
Location
Miles
40 miles east of Inverness, 65 miles north west of Aberdeen
Roads
A96
Rail
Elgin Station (ScotRail) 50 minutes to Inverness
Air
Inverness Airport
Situation
The property is situated in a prominent corner location on the northern side of the High Street at its junction with North Street. This section of the High Street, along with the St Giles Shopping Centre, forms the main retailing focus of the town. Nearby occupiers include Starbucks, Card Factory, Clydesdale Bank, TK Maxx and Boots Opticians.
Tenure
Heritable. (Scottish Equivalent of English Freehold)
Description
The property comprises an imposing retail unit with ancillary accommodation over ground, first, second and attic floors. Both the second floor and the attic have been sealed off. The extensive return frontage onto North Street is two storeys with a further single storey extension beyond this. There is a goods entrance to the rear of the property accessed from Alexandra Road.
Six Week Completion
VAT
VAT is applicable to this lot.
Viewings
Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Mhairi Jarvis. Telephone: +44 (0)131 552 5191.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises an imposing retail unit with ancillary accommodation over ground, first, second and attic floors. Both the second floor and the attic have been sealed off. The extensive return frontage onto North Street is two storeys with a further single storey extension beyond this. There is a goods entrance to the rear of the property accessed from Alexandra Road.
Six Week Completion
VAT
VAT is applicable to this lot.
Viewings
Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Mhairi Jarvis. Telephone: +44 (0)131 552 5191.
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
Review
Ground Ground (rear) First Second
Retail Storage Storage Disused
1,075.83 sq m 94.76 sq m 583.90 sq m Not Measured
(11,580 sq ft) (1,020 sq ft) (6,285 sq ft)
POUNDLAND LIMITED (1)
16 years from 29/09/2009 until 15/11/2025 on a full repairing and insuring lease (2)
£80,000
29/09/2020
Total
1,754.49 sq m
(18,885 sq ft)
£80,000
(1) For the year ending 29/03/2015, Poundland Limited reported a turnover of £1,111,526,000, pre-tax profits of £45,922,000 and a total net worth of £93,866,000. (Source: www.riskdisk.com 30/03/2016) (2) There is a Schedule of Condition attached to the lease.
