Let to Wilko Retail Limited on an extended lease until 2026
Parking for over 100 cars
Approximate site area of 0.67 hectares (1.66 acres) and approximate site coverage of 35%
Nearby occupiers include Co-operative Food, TSB Bank and M&Co
Lot 18
Auction 7th December 2017
Rent £167,750 per Annum Exclusive
Status Sold Prior
Price
Sector Retail Warehouse
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
18 miles west of Dumfries, 53 miles east of Stranraer, 45 miles north-west of Carlisle, 83 miles south-west of Glasgow
Roads
A75, A713, A745
Rail
Dumfries Railway Station
Air
Carlisle Airport
Situation
Castle Douglas is an affluent town and popular tourist destination in Dumfries and Galloway in the South West of Scotland. Dumfries, the largest town in the area, is located approximately 20 miles to the north east via the A75, while Carlisle is located some 53 miles east and Glasgow 83 miles north. The property is prominently situated on the northeast side of Cotton Street, one block from King Street, the town's principal retail thoroughfare. Nearby occupiers include Co operative Food, located on an adjacent site, while on King Street occupiers include TSB Bank and M&Co.
Tenure
Heritable.
Location
Miles
18 miles west of Dumfries, 53 miles east of Stranraer, 45 miles north-west of Carlisle, 83 miles south-west of Glasgow
Roads
A75, A713, A745
Rail
Dumfries Railway Station
Air
Carlisle Airport
Situation
Castle Douglas is an affluent town and popular tourist destination in Dumfries and Galloway in the South West of Scotland. Dumfries, the largest town in the area, is located approximately 20 miles to the north east via the A75, while Carlisle is located some 53 miles east and Glasgow 83 miles north. The property is prominently situated on the northeast side of Cotton Street, one block from King Street, the town's principal retail thoroughfare. Nearby occupiers include Co operative Food, located on an adjacent site, while on King Street occupiers include TSB Bank and M&Co.
Tenure
Heritable.
Description
The property comprises a purpose built former supermarket which accommodates substantial retail accommodation on the ground floor. There is ancillary accommodation on the first floor accessed by a staircase and a 5 person passenger lift. The property benefits from a yard area and a car park accommodating approximately 100 car parking spaces.
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 purpose built former supermarket which accommodates substantial retail accommodation on the ground floor. There is ancillary accommodation on the first floor accessed by a staircase and a 5 person passenger lift. The property benefits from a yard area and a car park accommodating approximately 100 car parking spaces.
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
Term
Rent p.a.x
Reversion
Ground First
Retail Retail
2,377.35 sq m 227.98 sq m
(25,590 sq ft) (2,454 sq ft)
WILKO RETAIL LIMITED (1)
18 years from 29/09/2008 on a full repairing and insuring lease
£167,750
28/09/2026 (2)
Totals
2,605.33 sq m
(28,044 sq ft)
£167,750
(1) Wilko Retail is a wholly owned subsidiary of Wilkinsons Hardware Stores Limited that operate from over 400 outlets nationwide. For the year ending 28th January 2017, Wilko Retail Limited reported a turnover of £1,512,763,000, a pre-tax profit of £5,198,000 and a total net worth of £142,450,000 (Source: Experian Group 7/11/2017). (2) The initial lease period was for a duration of 12 years from 2008. The lease extension was signed by the tenant in 2016 extending the lease term until 28th June 2026.
