Modern standalone foodstore let to Co-operative Group Food Limited until July 2029
5 yearly rental increases in line with RPI (minimum 1% maximum 4%)
Prominent roadside position with generous car parking to the front of the property
Neighbourhood foodstore located in established residential area
Lot 65
Auction 24th May 2018
Rent
Status Sold
Price £586,000
Sector Supermarket
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
30 miles north-east of Aberdeen
Roads
A950, A90
Rail
Aberdeen Railway Station (30 miles south)
Air
Aberdeen International Airport
Situation
Peterhead is a busy fishing port located 30 miles north-east of Aberdeen. Kinmundy Road is approximately 1.5 miles west of the town centre and the harbour area. The immediate area is an extensive and well established and affluent residential area. The road links to the A90 half a
mile to the west.
Tenure
Heritable. (Scottish equivalent of an English Freehold).
Location
Miles
30 miles north-east of Aberdeen
Roads
A950, A90
Rail
Aberdeen Railway Station (30 miles south)
Air
Aberdeen International Airport
Situation
Peterhead is a busy fishing port located 30 miles north-east of Aberdeen. Kinmundy Road is approximately 1.5 miles west of the town centre and the harbour area. The immediate area is an extensive and well established and affluent residential area. The road links to the A90 half a
mile to the west.
Tenure
Heritable. (Scottish equivalent of an English Freehold).
Description
The property comprises a modern purpose built foodstore with car parking for 16 cars. There is loading to the rear of the property.
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 a modern purpose built foodstore with car parking for 16 cars. There is loading to the rear of the property.
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
Retail
278.70 sq m
(3,000 sq ft)
CO-OPERATIVE GROUP FOOD LIMITED (1)
15 years from 14/07/2014 until 13/07/2029 on a full repairing and insuring lease
£40,000
014/07/2019 14/07/2024 (2)
Total
278.70 sq m
(3,000 sq ft)
£40,000
(1) The Co-operative is the UK’s fifth largest food retailer, with over 2,500 stores (www.co-operative.coop). For the year ending 2nd January 2016, Co-operative Group Food Limited reported a turnover of £6,475,500,000, pre-tax profits of -£429,600,000 and a total net worth of £1,385,500,000 (Source: Experian Group 30/04/2018). (2) The rent reviews are five yearly and linked to the Retail Price Index (RPI), to a minimum of 1% per annum and a maximum of 4% per annum compounded.