Let to Co-operative Group Food Limited until 2035 (subject to option)
Fixed rental uplifts in 2025 to £30,000 and in 2030 to £35,000
Includes three floors of self-contained offices with Vacant Possession
Neighbouring occupiers include RBS, TSB Bank, Post Office and a number of local traders
Lot 48
Auction 14th February 2018
Rent £25,000 per Annum Exclusive
Status Sold
Price £285,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
24 miles north of Inverness, 132 miles north of Edinburgh
Roads
B9174, A9
Rail
Tain Railway Station
Air
Inverness Airport
Situation
Tain is an attractive town located in the Highlands, 24 miles north of Inverness on the east side of the A9. The property is prominently situated on the south side of High Street (B9174), opposite the junction with Market Street in the town centre. Neighbouring occupiers include RBS, TSB Bank, Post Office and a number of local traders.
Tenure
Heritable.
Location
Miles
24 miles north of Inverness, 132 miles north of Edinburgh
Roads
B9174, A9
Rail
Tain Railway Station
Air
Inverness Airport
Situation
Tain is an attractive town located in the Highlands, 24 miles north of Inverness on the east side of the A9. The property is prominently situated on the south side of High Street (B9174), opposite the junction with Market Street in the town centre. Neighbouring occupiers include RBS, TSB Bank, Post Office and a number of local traders.
Tenure
Heritable.
Description
The property comprises ground and lower ground floor convenience store accommodation with basement storage accommodation. The first, second and third floors comprise vacant self-contained office accommodation, accessed via the front of the property. The property also benefits from a shared yard at the rear accessed via Bank Street.
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 ground and lower ground floor convenience store accommodation with basement storage accommodation. The first, second and third floors comprise vacant self-contained office accommodation, accessed via the front of the property. The property also benefits from a shared yard at the rear accessed via Bank Street.
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
Reviews
Ground Lower Ground Basement
Retail Retail Storage
324.30 sq m 42.80 sq m 86.45 sq m
(3,490 sq ft) (461 sq ft)
CO-OPERATIVE GROUP FOOD LIMITED (1)
20 years from 01/01/2015 until 01/01/2035 (2) on a full repairing and insuring lease (3)
£25,000
Fixed uplifts in 2025 and 2030
First Second Third
Office Office Office
91.20 sq m not measured not measured
(981 sq ft)
VACANT POSSESSION
Totals (excluding second and third floors)
544.75 sq m
(5,863 sq ft)
£25,000
(1) The Co-operative Group are the UK’s fifth largest food retailer operating across the country with over 2,800 local convenience and medium stores (Source: www.co-operative.coop). (2) The lease provides for a tenant option to determine on 01/01/2025 and 01/01/2030 with 6 months’ prior written notice, subject to a 6 month penalty on exercising these breaks. (3) The lease is full repairing and insuring subject to a Schedule of Condition.
