158 / 160 High Street Kirkcaldy Fife KY1 1NQ

  • 158 / 160 High Street<br>Kirkcaldy<br>Fife<br>KY1 1NQ

158 / 160 High Street
Kirkcaldy
Fife
KY1 1NQ

Heritable Retail Investment

  • 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
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
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Heritable Retail Investment

  • 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.

Contacts

Seller's Solicitors
Shepherd and Wedderburn LLP 1 Exchange Crescent, Conference Square
Edinburgh
EH3 8UL
Susie Thornton 0131 473 5458susie.thornton@shepwedd.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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