42 - 44 High Street
Peebles
Borders
EH45 8SD

Heritable Retail Investment

  • Town Centre Location
  • Popular commuter and tourist market town in Scottish Borders
  • Trading as M&Co on a lease expiring 2028 (1)
  • Occupiers closeby include Costa, Greggs, Fatface, Boots and Nationwide
  • Lot
    41
  • Auction
    23/Sep/2020

  • Status
    Sold
  • Price*
    £231,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
Important Auction & Property Update
  • 42 - 44 High Street<br>Peebles<br>Borders<br>EH45 8SD
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* More information on the term "price" can be found here

Property Information

Location
Miles
22 miles south of Edinburgh
50 miles south-east of Glasgow
Roads
A702, A703, A72, A721,
Rail
Edinburgh Waverley Station
Air
Edinburgh Airport
Situation

The Royal Burgh of Peebles on the River Tweed, lies in the Scottish Borders, 22 miles south of Edinburgh and is a popular and historic tourist and commuter town. The property is prominently situated on the north side of the busy High Street close to its junction with Eastgate. Nearby occupiers include British Heart Foundation, SemiChem, Bank of Scotland, Costa, Greggs, Fatface, Boots and Nationwide

Tenure

Heritable.

Description

The property comprises the ground and basement of a larger building with retail sales at ground floor and ancillary accommodation at basement level. The upper floors are in separate ownership and not included in the sale

VAT

VAT is applicable to this lot.

Viewings

Please contact Mhairi Archibald (07718899341)

EPC

See legal pack at www.acuitus.co.uk

Tenancy & Accommodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReviews
GroundRetail
179.39 sq m
(1,931 sq ft)
MERIDIAN
REALISATION
LIMITED (FORMERLY
MACKAYS STORES
LIMITED IN
ADMINISTRATION)(1)
10 years from
13/02/2018 to
12/02/2028
£30,600
BasementAncillary38.20 sq m(411 sq ft))
Total
217.59 sq m
(2,342 sq ft)
  £30,600 

(1) On 4 August 2020, Michael John Magnay and Gavin George Scott Park both of Deloitte LLP were appointed as joint administrators of the tenant, which is now known as Meridian Realisations Limited in Administration. On 4 August 2020, a licence to occupy was granted to M&Co Trading Limited (the entity which purchased the business and assets from Meridian Realisations Limited in Administration). Please refer to the letter from Deloitte LLP dated 12 August 2020 attached to this sale extract and enclosed with the auction pack for further details.

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
    23.09.20
    File Size
    28 MB
    Login to View
  • Site Plan
    Updated Date
    02.09.20
    File Size
    884 KB
    View PDF
  • Catalogue Page
    Updated Date
    02.09.20
    File Size
    693 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
Mhairi ArchibaldMhairi Archibald +44 (0)7718 899 341 Mhairi.archibald@acuitus.co.uk
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
Seller's Solicitors
Dentons UKMEA LLP 1 George Square
Glasgow
G2 1AL
Rachel Dunn +44 330 222 1710 rachel.dunn@dentons.com

Useful Links

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