129 St John's Road
Corstorphine
Edinburgh
EH12 7SB

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 Cooperative Food, Costa Coffee and Specsavers
  • Average monthly prescriptions of 2,500 items (Source: NHS National Services Scotland)
  • Lot
    4
  • Auction
    21/May/2020
  • Rent
    £25,004 per Annum Exclusive
  • Status
    Contact Us
  • Price*
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • On behalf of Trustees
  • 129 St John's Road<br>Corstorphine<br>Edinburgh<br>EH12 7SB
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  • Photos
  • Map

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

Property Information

Location
Miles
3 miles west of Edinburgh city centre
Roads
A8
Rail
Haymarket Station
Air
Edinburgh Airport
Situation

Corstorphine is a predominantly residential suburb located 3 miles west of Edinburgh city centre. Corstorphine is located on the A8 St Johns Road with Edinburgh Airport 3 miles to the west, Murrayfield Stadium 1.5 miles to the south-east and Edinburgh Zoo 0.5 miles to the east.
The property is located in a mixed residential/commercial area on St Johns Road (A8), at its junction with Belgrave Terrace and nearby occupiers include Costa, Cooperative Food, Subway, Greggs and Specsavers.

Tenure

Heritable.

Description

The property comprises a shop and ancillary accommodation arranged over ground and first floors forming part of a larger tenement building. The property is currently used as retail, pharmacy and storage accommodation at ground floor level with ancillary, staff and storage accommodation at first floor level. There is access to Kirk Loan for deliveries from the rear.

VAT

VAT is applicable to this lot.

Viewings

Please contact Mhairi Archibald (07718 899341)

Completion Period

Six week completion is available

EPC

See legal pack at acuitus.co.uk

Tenancy & Accommodation

AccommodationUseFloor Areas (Approx)TenantTermRent p.a.xReview
Ground
First
Retail
Ancillary
139.80 sq m
72.10 sq m
1,505 sq ft
776 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) (3)
£25,00422/07/2020
Total
211.90 sq m
(2,281 sq ft)
  £25,004 

(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 £25,000 p.a.x.
(3) For the purpose of clarification, the current passing rent is £25,004 p.a.x. At the commencement of the reversionary lease on 22/07/2020, the rent will reduce slightly to £25,000 p.a.x and the tenant will benefit from a six month rent free period.The seller has agreed to adjust completion monies so the sale will effectively produce £25,000 p.a.x from 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
    20.05.20
    File Size
    8 MB
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  • Catalogue Page
    Updated Date
    01.05.20
    File Size
    624 KB
    View PDF
  • Site Plan
    Updated Date
    01.05.20
    File Size
    346 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    15.09.20
    File Size
    57 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
Charlie PowterCharlie Powter +44 (0)20 7034 4853 +44 (0)7768 120904charlie.powter@acuitus.co.uk
Mhairi ArchibaldMhairi Archibald +44 (0)7718 899 341 Mhairi.archibald@acuitus.co.uk
Seller's Solicitors
Burness Paull 120 Bothwell Street
Glasgow
G2 7JL
Donald Findlay 0131 473 6901Donald.Findlay@burnesspaull.com

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