Prominent position on the pedestrianised High Street to be let to River Island Clothing Co. Limited
New 5 year lease (subject to option)
Nearby occupiers include Marks & Spencer, Next, Bank of Scotland and Costa Coffee
Close to the Bus Station and town centre car parks
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 83
Auction 8th December 2016
Rent £60,000 per Annum Exclusive
Status Sold
Price £400,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
28 miles north-east of Edinburgh, 18 miles east of the Forth Road Bridge
Roads
A92
Rail
Kirkcaldy (40 minutes to Edinburgh Waverley)
Air
Edinburgh Airport (26 miles south)
Situation
Kirkcaldy has a population of approximately 50,000 and a catchment of 150,000 from east Fife. The town is the second largest town in Fife and benefits from excellent accessibility from the A92 linking with the A90 south to Edinburgh and north to Perth. The new road bridge, the Queensferry Crossing, which will link Fife with Edinburgh and the south, is due to open during the Summer 2017.
The property is well located on the pedestrianised part of the High Street. Neighbouring occupiers include Marks and Spencer, Next, Costa Coffee and New Look.
Tenure
Heritable. (Scottish equivalent of English Freehold).
Location
Miles
28 miles north-east of Edinburgh, 18 miles east of the Forth Road Bridge
Roads
A92
Rail
Kirkcaldy (40 minutes to Edinburgh Waverley)
Air
Edinburgh Airport (26 miles south)
Situation
Kirkcaldy has a population of approximately 50,000 and a catchment of 150,000 from east Fife. The town is the second largest town in Fife and benefits from excellent accessibility from the A92 linking with the A90 south to Edinburgh and north to Perth. The new road bridge, the Queensferry Crossing, which will link Fife with Edinburgh and the south, is due to open during the Summer 2017.
The property is well located on the pedestrianised part of the High Street. Neighbouring occupiers include Marks and Spencer, Next, Costa Coffee and New Look.
Tenure
Heritable. (Scottish equivalent of English Freehold).
Description
The property comprises a three storey terraced building with retail sales at ground and first floors. At second floor there is additional storage and staff and ancillary accommodation.
VAT
VAT is applicable to this lot.
Viewings
Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Mhairi Jarvis. Telephone: +44 (0)131 552 5191.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a three storey terraced building with retail sales at ground and first floors. At second floor there is additional storage and staff and ancillary accommodation.
VAT
VAT is applicable to this lot.
Viewings
Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Mhairi Jarvis. Telephone: +44 (0)131 552 5191.
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 Second
Retail/Ancillary Retail/Ancillary Ancillary
286.60 sq m 137.95 sq m 73.85 sq m
3,085 sq ft 1,485 sq ft 792 sq ft
RIVER ISLAND CLOTHING CO. LIMITED (1)
5 years from 17/11/2016 (2)
£60,000
16/11/2021
Total
3,498.13 sq m
5,362 sq ft
£60,000
(1) River Island Clothing Co. Limited have been trading on the high streets of the UK for the last 60 years. They have approximately 350 stores across the UK, Ireland and internationally. For the year ending 27th December 2014, River Island Clothing Company Limited reported a turnover of £894,000,000, a pre-tax profit of £148,600,000 and a net worth of £394,000,000. (Source: Experian Group 14/11/2016) (2) The lease provides for a tenant option to determine on the third anniversary of the term, subject to 6 months’ prior notice.
