54 - 56 Court Street Haddington East Lothian EH41 3AF

54 - 56 Court Street
Haddington
East Lothian
EH41 3AF

Heritable Former Bank/Retail and Office

Part let to Clyde & Forth Press Limited on a new 5 year lease (lease renewal) (3)
Vacant Possession of majority of ground floor, with redevelopment, refurbishment and Change of Use potential (subject to planning)
Asset management opportunities including potential to reinstate ATM
Attractive detached period property totalling 333.13 sq m (3,585 sq ft)
Prominent position within a prosperous commuter town close to Edinburgh

Lot
48
Auction
23rd October 2014
Rent
£16,500 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Heritable Former Bank/Retail and Office

Part let to Clyde & Forth Press Limited on a new 5 year lease (lease renewal) (3)
Vacant Possession of majority of ground floor, with redevelopment, refurbishment and Change of Use potential (subject to planning)
Asset management opportunities including potential to reinstate ATM
Attractive detached period property totalling 333.13 sq m (3,585 sq ft)
Prominent position within a prosperous commuter town close to Edinburgh

Lot 48
Auction 23rd October 2014
Rent £16,500 per Annum Exclusive
Status Sold Prior
Price
Sector
High Street Retail
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Situation

The property is situated in a prominent location on the north side of Court Street, close to the junction with Station Road. The property is located adjacent to the Post Office with Royal Bank of Scotland, HBoS and M&Co all close by.Tesco and TSB are also represented in the town.

Tenure

Heritable.

Situation

Tenure

Heritable.

VAT

VAT is not applicable to this lot.

Viewings

Interested parties must register their details with the Auctioneers and provide identification on site. Please contact: Mhairi Jarvis. Tel: (0)131 554 1705.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises an imposing two storey period building with a rear extension to the ground floor only.The property is B Listed (Historic Scotland) and therefore empty rates are not payable over the vacant accommodation. The grand entrance and reception area has a staircase leading to the self-contained first floor office accommodation.

VAT

VAT is not applicable to this lot.

Viewings

Interested parties must register their details with the Auctioneers and provide identification on site. Please contact: Mhairi Jarvis. Tel: (0)131 554 1705.

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
Ground	Office/Former Banking Hall	191.74 sq m	(2,064 sq ft)	VACANT (1)	-	-
Part Ground and First	Office	141.39 sq m	(1,522 sq ft)	CLYDE & FORTH PRESS LIMITED (2)	5 years from 01/10/2014 until 30/09/2019 on a Full Repairing and Insuring lease (3)	£16,000
Totals		333.13 sq m	(3,586 sq ft)			£16,000

(1) We understand that the previous tenant, Clydesdale Bank, may wish to reinstate the ATM at the property.
(2)Trading as the East Lothian Courier. Clyde & Forth Press Limited publishes a portfolio of newspaper brands in print and online with 32 titles and over 30 websites. Examples of their publications include East Lothian Courier, Central Fife Times and Greenock Telegraph. For the year to 28/09/13, Clyde & Forth Press Limited reported a turnover of £13.26million and pre-tax profits of £2.92 million (Source: One Source One Stop Report 13/09/14 and ww.cfpress.co.uk)
(3) The lease is subject to a tenant’s option to determine on 30th September 2017 on 6 month’s prior notice.