Heritable Retail Investment
Heritable Retail Investment
Forfar is a popular market town in the east of Scotland, 14 miles north of Dundee. The property is located in the town centre opposite the Town Hall and municipal buildings, on the northern side of Castle Street. Nearby occupiers include Costa Coffee, Greggs, Peacocks and Specsavers.
Heritable. (Scottish equivalent of English Freehold).
Forfar is a popular market town in the east of Scotland, 14 miles north of Dundee. The property is located in the town centre opposite the Town Hall and municipal buildings, on the northern side of Castle Street. Nearby occupiers include Costa Coffee, Greggs, Peacocks and Specsavers.
Heritable. (Scottish equivalent of English Freehold).
The property comprises a ground floor retail unit which is part of a larger tenement property (upper floors in separate ownership). Retail sales and pharmacy are to the front of the unit with staff, ancillary and storage to the rear.
VAT is applicable to this lot.
Please contact Mhairi Archibald 0771 8899341
Available at acuitus.co.uk
The property comprises a ground floor retail unit which is part of a larger tenement property (upper floors in separate ownership). Retail sales and pharmacy are to the front of the unit with staff, ancillary and storage to the rear.
VAT is applicable to this lot.
Please contact Mhairi Archibald 0771 8899341
Available at acuitus.co.uk
| Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x. | Review/ (Reversion) |
|
|---|---|---|---|---|---|---|---|
| Ground | Retail | 176.51 sq m |
(1,900 sq ft) |
BOOTS UK LIMITED (1) |
21 years and 4 months from 22/03/2005 on a full repairing and insuring lease (2) |
£33,756 | 21/07/2026 |
| Total |
176.51 sq m |
(1,900 sq ft) |
£33,756 (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 20 years expiring 21/07/2020, however a 6 year reversionary lease has been signed from expiry of the current term until 21/07/2026 at a rebased rent of £25,000 p.a.x.
(3) At the commencement of the reversionary lease on 21/07/2020, the rent will rebase to £25,000 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 £25,000 p.a.x. from the commencement of the reversionary lease.
If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.
If you have a query, please fill in the box below, otherwise click the Submit button.
Are you sure you want to remove this property from My Catalogue?
Are you sure you are no longer interested in this property?
Are you sure you want to delete your Account?
