Wilko
74 / 76 Cotton Street
Castle Douglas
DG7 1AN

Substantial Heritable Retail Investment

  • 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
    07/Dec/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
Important Property Update
  • Wilko<br>74 / 76 Cotton Street<br>Castle Douglas<br>DG7 1AN
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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.

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

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.xReversion
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
£167,75028/09/2026 (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.

Property Documents

  • Site Plan
    Updated Date
    14.11.17
    File Size
    1 MB
    View PDF
  • Catalogue Page
    Updated Date
    14.11.17
    File Size
    1 MB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Mhairi JarvisMhairi Jarvis +44 (0)131 552 5191 +44 (0)7718 899 341mhairi.jarvis@acuitus.co.uk
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Seller's Solicitors
Brodies LLP 2 Blythswood Square
Glasgow
G2 4AD
Finlay Campbell 0131 656 3738finlay.campbell@brodies.com

Useful Links

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