345 High Street
Cowdenbeath
KY4 9QJ

Heritable Retail Investment

  • Let to Boots UK Limited until 2026 on a recently extended lease (no breaks)
  • Well located on High Street close to the entrance to The Raith Shopping Centre
  • Neighbouring occupiers include Bank of Scotland, Iceland, Greggs and Semichem
  • Lot
    42
  • Auction
    26/Mar/2020
  • Rent
    £20,941 per Annum Exclusive
  • Status
    Available
  • Price*
    Contact Us
  • Sector
    High Street Retail
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    Marble Arch
    London W1H 7TN
  • On behalf of Trustees
  • 345 High Street<br>Cowdenbeath<br>KY4 9QJ
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
20 miles north of Edinburgh
Roads
M90, A92
Rail
Cowdenbeath Railway Station
Air
Edinburgh Airport
Situation

Cowdenbeath is located in west central Fife and is 5 miles east of Dunfermline and 4 miles west of Kirkcaldy.
The town has a population of approximately 12,000 and serves a wide catchment area. The town is well linked with the A92 joining the M90 at Dunfermline, accessing the Central Belt of Scotland south at Edinburgh. The property is located at the northern end of High Street in Cowdenbeath. Neighbouring occupiers include Bank of Scotland, Iceland, Greggs, Domino's and Semichem.

Tenure

Heritable.

Description

The property comprises the whole building at 345 High Street with an open glazed frontage at ground and first floors.
There is a retail sales floor at ground floor with ancillary, staff and storage at first floor.

VAT

VAT is applicable to this lot.

Viewings

Please contact Mhairi Archibald on 0771 8899341

EPC

Available at acuitus.co.uk

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.x. Reversion
Ground Floor
First
Retail
Ancillary
83.61 sq m
104.88 sq m
(1,129 sq ft)
(900 sq ft)
BOOTS UK
LIMITED (1)
21 years and 4
months from
22/03/2005 on a
full repairing and
insuring lease (2)
£20,94121/07/2026
Total
188.49 sq m
(2,029 sq ft)
  £20,941 (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 £16,753 p.a.x.
(3) At the commencement of the reversionary lease on 21/07/2020, the rent will rebase to £16,753 p.a.x and the tenant will benefit from a six month rent free period. The seller has agreed to adjust the completion monies so the sale will effectively produce £16,753 p.a.x. from the commencement of the reversionary lease.

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    19.03.20
    File Size
    17 MB
    Login to View
  • Catalogue Page
    Updated Date
    04.03.20
    File Size
    594 KB
    View PDF
  • Site Plan
    Updated Date
    04.03.20
    File Size
    596 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    20.05.20
    File Size
    694 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
Mhairi ArchibaldMhairi Archibald +44 (0)7718 899 341 Mhairi.archibald@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854billy.struth@acuitus.co.uk
Seller's Solicitors
Burness Paull 120 Bothwell Street
Glasgow
G2 7JL
Donald Findlay 0131 473 6901Donald.Findlay@burnesspaull.com

Useful Links

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