230 / 232 Gorgie Road
Edinburgh
EH11 2PN

Heritable Retail Investment

  • Let to Boots UK Limited until 2025 (no breaks) (2)
  • New reversionary lease signed in 2019
  • Located in affluent suburb 2 miles from Edinburgh city centre
  • Nearby occupiers include Costa Coffee, Greggs and Ladbrokes
  • Lot
    3
  • Auction
    11/Dec/2019
  • Rent
    £16,750 per Annum Exclusive
  • Status
    Available
  • Price*
    £220,000
  • Sector
    High Street Retail
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    London W1H 7TN
  • On behalf of Trustees
Important Auction & Property Update
  • 230 / 232 Gorgie Road<br>Edinburgh<br>EH11 2PN
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* More information on the term "price" can be found here

Property Information

Location
Miles
2 miles south-west of Edinburgh city centre
Roads
M8 (Junction 1), A71
Rail
Haymarket Railway Station
Air
Edinburgh Airport
Situation

Gorgie Road forms one of the main road links between the west of Edinburgh and the city centre. The property is located approximately two miles from Edinburgh city centre in a prominent position on the street close to Costa Coffee, Greggs, Ladbrokes and Poundstretcher. Aldi and Sainsbury's are also located nearby.

Tenure

Heritable. (Scottish equivalent of English Freehold).

Description

The property comprises a double fronted ground floor retail unit, which forms part of a larger building which does not form part of the sale.

VAT

VAT is applicable to this lot.

EPC

Band G. Available in legal pack at acuitus.co.uk

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.x
GroundRetail/Ancillary
130.06 sq m
(1,400 sq ft)
BOOTS UK
LIMITED (1)
20 years and 4 months from 22/03/2005 until
21/07/2025 on a full repairing and insuring
lease (2)
£16,750
Total
130.06 sq m
(1,400 sq ft)
  £16,750 (3)

(1) For the year ending 31st August 2018, Boots UK Limited reported a turnover of £6,790,000,000, pre-tax profits of £398,000,000 and a total net worth of £875,000,000 (Source: Experian Group 19/09/2019). Boots is the largest pharmacy health and beauty chain in the UK and as at 31st August 2018 had 2,485 stores across the UK (Source: www.boots-uk.com/about-boots-uk/about-boots/boots-in-numbers/ 20/09/2019).
(2) The current lease is for a term of 15 years and four months expiring 21/07/2020, however a 5 year reversionary lease has been signed from expiry of the current term until 21/07/2025 at a rent of £16,750 p.a.x.
(3) For the purpose of clarification, the current passing rent is £16,320 p.a.x. The current lease provides a fixed rental increase to £16,565 p.a.x from 1st April 2020. At the commencement of the reversionary lease on 21/07/2020, the rent will increase to £16,750 p.a.x and the tenant will benefit from a twelve month rent free period. The seller has agreed to adjust the completion monies so the sale will effectively produce £16,750 p.a.x. from the completion of sale.

If you are the successful bidder Acuitus requires a separate payment of £500 plus VAT (£600 inclusive of VAT) buyer's administration charge payable to Acuitus Limited

Property Documents

  • Solicitors Legal Pack
    Updated Date
    03.12.19
    File Size
    14 MB
    Login to View
  • Catalogue Page
    Updated Date
    20.11.19
    File Size
    558 KB
    View PDF
  • Site Plan
    Updated Date
    20.11.19
    File Size
    2 MB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    19.09.19
    File Size
    36 KB
    View PDF

Contacts

Acuitus
Mhairi JarvisMhairi Jarvis +44 (0)7718 899 341mhairi.jarvis@acuitus.co.uk
Georgina RobertsGeorgina Roberts +44 (0)20 7034 4863 +44 (0)7899 877 224georgina.roberts@acuitus.co.uk
Seller's Solicitors
Burness Paull 50 Lothian Road
Edinburgh
EH3 9WJ
Andrew Wood 0131 473 6903andrew.wood@burnesspaull.com

Useful Links

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