134 - 146 High Street Kirkcaldy Fife KY1 1LN

134 - 146 High Street
Kirkcaldy
Fife
KY1 1LN

Substantial Heritable (2) Retail Opportunity

  • Substantial former department store
  • Approximately 35,450 sq ft
  • Let to SHB Realisations Limited (formerly known as BHS Limited) (in liquidation)
  • May appeal to investors, developers and owner occupiers
  • No empty rates whilst lease in place (1)
  • Future redevelopment and change of use potential (subject to consents)
  • Low Capital Value on Guide Price – approximately £6psf
  • Lot
    44
  • Auction
    7th December 2017
  • Rent
    £330,000 per Annum Exclusive
  • Status
    Sold Prior
  • Price
     
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Substantial Heritable (2) Retail Opportunity

  • Substantial former department store
  • Approximately 35,450 sq ft
  • Let to SHB Realisations Limited (formerly known as BHS Limited) (in liquidation)
  • May appeal to investors, developers and owner occupiers
  • No empty rates whilst lease in place (1)
  • Future redevelopment and change of use potential (subject to consents)
  • Low Capital Value on Guide Price – approximately £6psf
  • Lot 44
  • Auction 7th December 2017
  • Rent
  • Status Sold Prior
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
18 miles north-east of the Forth Road Bridge, 28 miles north of Edinburgh
Roads
A92
Rail
Kirkcaldy Railway Station (40 minutes to Edinburgh Waverley)
Air
Edinburgh Airport
Situation

The property is situated in a prime retailing location on the south-eastern side of the pedestrianised section of High Street, in the heart of Kirkcaldy town centre. The property is located close to The Mercat Shopping Centre which also houses occupiers including Marks & Spencer, Boots the Chemist, JD Sports, TK Maxx, Superdrug, Peacocks and Poundland. Car parking is provided by The Esplanade (approx. 502 spaces) and The Thistle (approx. 213 spaces) car parks, both of which are located nearby.

Tenure

Heritable. Heritable (Scottish Equivalent of Freehold). (2) A small part of the property (accessway to The Mercat Centre) is held leasehold for a term expiring 15th May 2099 at a nominal rent.

Location
Miles
18 miles north-east of the Forth Road Bridge, 28 miles north of Edinburgh
Roads
A92
Rail
Kirkcaldy Railway Station (40 minutes to Edinburgh Waverley)
Air
Edinburgh Airport
Situation

The property is situated in a prime retailing location on the south-eastern side of the pedestrianised section of High Street, in the heart of Kirkcaldy town centre. The property is located close to The Mercat Shopping Centre which also houses occupiers including Marks & Spencer, Boots the Chemist, JD Sports, TK Maxx, Superdrug, Peacocks and Poundland. Car parking is provided by The Esplanade (approx. 502 spaces) and The Thistle (approx. 213 spaces) car parks, both of which are located nearby.

Tenure

Heritable. Heritable (Scottish Equivalent of Freehold). (2) A small part of the property (accessway to The Mercat Centre) is held leasehold for a term expiring 15th May 2099 at a nominal rent.

Description

The property comprises a substantial former department store, arranged over ground, basement, first and second floors.

VAT

VAT is applicable to this lot.

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 substantial former department store, arranged over ground, basement, first and second floors.

VAT

VAT is applicable to this lot.

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 Rent p.a.x
Ground
Basement
First
Second
Retail/Ancillary
Ancillary
Ancillary
Ancillary
1,676.77 sq m
287.93 sq m
1,263.90 sq m
65.03 sq m
(18,047 sq ft)
(3,099 sq ft)
(13,604 sq ft)
(700 sq ft)
SHB
REALISATIONS
LIMITED (1)
£330,000
(No rent being
received)
Totals
3,293.39 sq m
(35,450 sq ft)
   

(1) The property is currently let to SHB Realisations Limited (formerly known as British Home Stores Limited) (in liquidation and not in occupation) at £330,000 per annum. Following the BHS CVA in April 2016, this rent was reduced by 50%. No rent has been received since 16th August 2016, although the lease remains in place. The tenant’s liquidator cannot repudiate the lease but the tenant’s liquidator can refuse to comply with the provisions of the lease. The owner of the property can repossess the lease at any time, but until then, the tenant in liquidation is responsible for any outgoings, although in practice these are not paid.

Property Documents

  • Site Plan
    Updated Date
    11.11.19
    File Size
    2 MB
    View PDF
  • Catalogue Page
    Updated Date
    11.11.19
    File Size
    534 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Mhairi ArchibaldMhairi Archibald +44 (0)7718 899 341 Mhairi.archibald@acuitus.co.uk
Associate Auctioneers
Molyneux Rose LLP 143 New Bond Street
London
W1S 2TP
Chris Tippetts 020 7409 0130chris.tippetts@molyrose.co.uk
Seller's Solicitors
Kennedys 25 Fenchurch Avenue
London
EC3M 5AD
Jeremy Palmer 0207 667 9239jeremy.palmer@kennedyslaw.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now