12 Rotterdam Street
Thurso
Caithness
KW14 8EN

Heritable Retail Investment

  • Pedestrianised Town Centre Location
  • Neighbouring occupiers include Santander, RBS and Semichem
  • Entire building for sale
  • Lot
    43
  • Auction
    23/Sep/2020
  • Rent
    £67,550 per Annum Exclusive
  • Status
    Sold
  • Price*
    £220,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
Important Auction & Property Update
  • 12 Rotterdam Street<br>Thurso<br>Caithness<br>KW14 8EN
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  • Photos
  • Map

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

Property Information

Location
Miles
20 miles north west of Wick
110 miles north of Inverness
Roads
A9
Rail
Thurso Railway Station (Scotrail)
Air
Wick Airport (20 miles south east)
Inverness Airport (120 miles south)
Situation

Thurso is Scotlands most northerly town and is situated on the north coast of Caithness. The town provides a good range of local services as well as providing a gateway to the Orkney Islands with a car ferry route from Scrabster (1.5miles to the north west). It is a popular tourist location due to its proximity to John O'Groats and also being one of the larger settlements on the North Coast 500 Route.
The property is prominently located on the pedestrianised main retailing street in the town and at the junction of Olrig Street. Neighbouring occupiers including RBS, Ladbrokes and Santander.

Tenure

Heritable.

Description

The property comprises a traditional two storey building with ground floor retail and ancillary accommodation at first floor level.

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.xReview
GroundRetail
306.48 sq m
3,299 sq ft
MERIDIAN
REALISATION LIMITED
(FORMERLY MACKAYS
STORES LIMITED IN
ADMINISTRATION)(1)
18/05/2007 to
31/01/2033 on
FRI Terms (2)
£67,550
FirstAncillary259.85 sq m2,797 sq ft?
Total
566.33 sq m
6,096 sq ft
  £67,550 

(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.
(2) there is an option in favour of the tenant to terminate the lease any time prior to 1 year after each of the later of:-
(a) the second, third and fourth Review Dates (08/05/2022 and 08/05/2027); and
(b) the date on which the rent payable from and after the Relevant Review Date has been fixed in accordance with the lease; by service on the Landlords of 6 months notice to that effect.

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
    16 MB
    Login to View
  • Catalogue Page
    Updated Date
    02.09.20
    File Size
    672 KB
    View PDF
  • Site Plan
    Updated Date
    02.09.20
    File Size
    800 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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