1 - 5 Mains Street
Lockerbie
Dumfriesshire
DG11 2DG

Prominent Retail Investment

  • Let to The Factory Shop Limited until October 2023 (No breaks)
  • Annually compounded RPI linked rental increase in 2018 subject to a minimum of 2% per annum and a maximum of 4% per annum
  • Nearby occupiers include Tesco Superstore, Home Bargains and Bank of Scotland
  • Approximately 770.74 sq m (8,298 sq ft)
  • Producing £63,436.36 p.a.x. Rising to a minimum of £71,772 p.a.x. in 2018 (2)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    46
  • Auction
    25/May/2017
  • Rent
    £63,436 per Annum Exclusive
  • Status
    Contact Us
  • Price*
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • 1 - 5 Mains Street<br>Lockerbie<br>Dumfriesshire<br>DG11 2DG
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Property Information

Location
Miles
12 miles east of Dumfries, 26 miles north of Carlisle
Roads
A74 (M)
Rail
Lockerbie Railway Station (Scotrail)
Situation

Lockerbie is a market town located immediately adjacent to the A74(M). The property is situated in a prominent corner location at the junction of High Street, Mains Street, Arthurs Place and Goods Station Road in the town centre. Nearby occupiers include Tesco Superstore, Home Bargains and Bank of Scotland.

Tenure

Heritable. Part Heritable (Scottish Equivalent of English Freehold) and Part Leasehold. Held under two separate 1,680 year leases until 3475 at a peppercorn rent.

Description

The property, a single storey building, comprises ground floor retail accommodation and benefits from an extended frontage onto Mains Street and Arthurs Place. The property further benefits from a loading area off Arthurs Place and parking to the rear of the property for approximately 20 cars, accessed from both Mains Street and Arthurs Place.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

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 advisable. For more information, please click here.

Tenancy & Accomodation

FloorUseFloor Areas
(Approx)

TenantTermRent p.a.xReview
Ground
Retail/
Ancillary
770.74 sq m
(8,298 sq ft)
THE FACTORY SHOP LIMITED
(1)

15 years from 04/10/2008
until 03/10/2023 on a full
repairing and insuring
lease
£63,436.36
04/10/2018
(2)
Total 
770.74 sq m
(8,298 sq ft)
  £63,436.36 rising to
a minimum of
£71,772 in 2018

 

(1) For the year ending 27th March 2016, The Factory Shop Limited reported a turnover of £184,496,000, pre-tax profits of £6,015,000 and a total net worth of £48,706,000 (Source: Experian Group 28/04/2017).
(2) The lease provides for the rent to be increased in line with the Retail Price Index (RPI) annually compounded and subject to a minimum of 2% per annum and a maximum of 4% per annum. Therefore in October 2018, the rent will increase to a minimum of £71,772 per annum exclusive.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    11.05.17
    File Size
    13 MB
    Login to View
  • Catalogue Page
    Updated Date
    03.05.17
    File Size
    625 KB
    View PDF
  • Site Plan
    Updated Date
    03.05.17
    File Size
    928 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Alec LinfieldAlec Linfield +44 (0)20 7034 4860alec.linfield@acuitus.co.uk
Seller's Solicitors
Macgregor Thomson Forsyth House, Lomond Court, Castle Business Park
Stirling
FK9 4TU
Andrew Thomson 01786 431 745athomson@macgregorthomson.co.uk

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