Prominent town centre location, close to prime retail thoroughfare
Let to B&M Retail Ltd, with over 230 stores UK-wide
Principal commercial centre for the Scottish Borders area
Nearby occupiers include Halfords, Tescos, McDonald's and Next
Lot 21
Auction 18th October 2011
Rent £75,000 per Annum Exclusive
Status Sold Prior
Price
Sector High Street Retail
Auction Venue Millennium Hotel 44 Grosvenor Square London W1K 2HP
On behalf of the Co-operative Estates
Property Information
Location
Miles
Edinburgh (28 miles), Berwick upon Tweed (32 miles)
Roads
A68, A7
Air
Edinburgh, Newcastle International
Situation
Galashiels is a major commercial centre and central communication point for the Scottish Borders. The property is situated on a substantial corner plot, close to the prime retail thoroughfare. Nearby occupiers include Asda, Boots, Halfords, Marks & Spencer, Matalan, Next, McDonald's and Tesco.
Tenure
Heritable. (Scottish Equivalent of English Freehold)
Location
Miles
Edinburgh (28 miles), Berwick upon Tweed (32 miles)
Roads
A68, A7
Air
Edinburgh, Newcastle International
Situation
Galashiels is a major commercial centre and central communication point for the Scottish Borders. The property is situated on a substantial corner plot, close to the prime retail thoroughfare. Nearby occupiers include Asda, Boots, Halfords, Marks & Spencer, Matalan, Next, McDonald's and Tesco.
Tenure
Heritable. (Scottish Equivalent of English Freehold)
Description
The property comprises a modern, stand-alone, ground floor retail store. There is also ancillary storage on the first floor and a substantial car park adjacent to the building, with a further car park on Stirling Street.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a modern, stand-alone, ground floor retail store. There is also ancillary storage on the first floor and a substantial car park adjacent to the building, with a further car park on Stirling Street.
VAT
VAT is applicable to this lot.
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 First Floor
Retail Storage
1,634.44 sq m 269.01 sq m
(17,593 sq ft) (2,895 sq ft)
B&M RETAIL LTD (1)
10 years from 13/09/2010 until 2020 (2)
£75,000
12/09/2015
Totals
1,903.45 sq m
(20,488 sq ft)
£75,000
(1) For the year ending 31st December 2010 B&M Retail reported a turnover of £538,321,000, pre-tax profit of £35,183,000 and a net worth of £67,540,000. (Source: www.riskdisk.com 22/08/2011) (2) The lease provides for an option to determine in the 5th year with 6 months' notice.
