28-30 & 32 High Street
Fort William
Highlands
PH33 6AT

Heritable Retail Investment

  • Let to tenants trading as Sports Direct and Cafe Ecosse
  • Sports Direct have not exercised their 2018 break option
  • Comprises two adjoining retail units
  • Popular tourist destination close to Ben Nevis and Glencoe
  • Prominent pedestrianised town centre location
  • Nearby occupiers include Boots, WH Smith, Tesco Metro, Mountain Warehouse and Fat Face
  • Lot
    20
  • Auction
    24/May/2018
  • Rent
    £85,000 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price*
     
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Property Update
  • 28-30 & 32 High Street<br>Fort William<br>Highlands<br>PH33 6AT
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Property Information

Location
Miles
64 miles south-west of Inverness, 105 miles north-west of Glasgow
Roads
A82, A830
Rail
Fort William Railway Station
Air
Inverness Airport
Situation

Fort William is the largest town in the West Highlands and is a popular tourist destination all year round due to its proximity to Ben Nevis and Glencoe. The property is prominently situated in the heart of the town centre, on the east side of the pedestrianised High Street, and benefits
from a substantial public car park located to the rear. Nearby occupiers include Boots, WH Smith, Tesco Metro, Mountain Warehouse and Fat Face.

Tenure

Heritable.

Description

The property comprises two adjoining units arranged to provide ground floor retail accommodation with ancillary accommodation on the first and second floors.

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

UnitFloorUseFloor Areas (Approx)TenantTermRent p.a.xReview/
(Reversion)
28-30Ground
First
Second
Retail/Ancillary
Ancillary
Ancillary
173.91 sq m
264.40 sq m
100.15 sq m
(1,872 sq ft)
(2,846 sq ft)
(1,078 sq ft)
SPORTSDIRECT.
COM RETAIL
LIMITED (1)
t/a Sports Direct
10 years from 17/09/2012£55,000(16/09/2022)
32GroundRetail/Ancillary
138.52 sq m
(1,491 sq ft)
FORT WILLIAM
FOOD CONCEPT
SITE 1 LIMITED
with guarantee (2)
t/a Café Ecosse
10 years from 03/08/2015
(3)
£30,000 (4)
(5)
03/08/2020
(02/08/2025)
Total 
676.98 sq m
(7,287 sq ft)
  £85,000 (4) 

(1) For the year ending 30th April 2017, Sportsdirect.com Retail Limited reported a turnover of £2,220,022,000, pre-tax profits of £177,097,000 and a total net worth of £1,273,500,000 (Source: Experian Group 25/4/2018).
(2) The property has been sublet.
(3) The lease is subject to a tenant option to determine on 3rd August 2020 subject to six months’ prior written notice.
(4) The lease provides for fixed increases in rent. The current rent is £27,000 p.a.x. rising to £28,000 p.a.x. on 03/08/2018 and £30,000 p.a.x. on 03/08/2019. The seller has agreed to adjust the completion monies so that the unit will effectively produce £30,000 p.a.x. from
completion of the sale. Additionally, the lease provides for an open market rent review on 03/08/2020.
(5) The seller is holding a £7,500 rent deposit.

Property Documents

  • Site Plan
    Updated Date
    02.05.18
    File Size
    2 MB
    View PDF
  • Catalogue Page
    Updated Date
    02.05.18
    File Size
    684 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Will MooreWill Moore +44 (0)20 7034 4858 +44 (0)7899 877 224will.moore@acuitus.co.uk
Mhairi JarvisMhairi Jarvis +44 (0)131 552 5191 +44 (0)7718 899 341mhairi.jarvis@acuitus.co.uk
Seller's Solicitors
DLA Piper Scotland LLP Rutland Square
Edinburgh
EH1 2AA
Alison Scott 0131 345 5164alison.scott@dlapiper.com

Useful Links

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