63 High Street
Nairn
Highland
IV12 4BW

Heritable Retail Investment

  • Town Centre Location
  • Popular seaside resort
  • Nearby occupiers include Sue Ryder, Co-Op and Boots
  • Close to pedestrianised crossing
  • Lot
    42
  • Auction
    23/Sep/2020
  • Rent
    £42,958 per Annum Exclusive
  • Status
    Sold
  • Price*
    £130,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
Important Auction & Property Update
  • 63 High Street<br>Nairn<br>Highland<br>IV12 4BW
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* More information on the term "price" can be found here

Property Information

Location
Miles
17 miles east of Inverness
22 miles west of Elgin
Roads
A96, A939
Rail
Nairn Railway Station
Air
Inverness Airport
Situation

Nairn is located 17 miles to the east of Inverness in Highland Scotland. The town has a population of approximately 10,000 people and lies on the A96 trunk road which links Aberdeen with Inverness. The premises are located on the south side of the High Street close to the junction with Church Street. Nearby occupiers include Specsavers, Co-operative Food and Bank of Scotland and a wide variety of independent retailers.

Tenure

Heritable.

Description

The property comprises a ground floor shop and ancillary accommodation at basement. There is a first floor which is in separate ownership and not included in the sale.

VAT

VAT is applicable to this lot.

Viewings

Please contact Mhairi Archibald (0771 8899341)

EPC

See legal pack at www.acuitus.co.uk

Tenancy & Accommodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReview
GroundRetail)
506.03 sq m
(5,447 sq ft)
MERIDIAN
REALISATION LIMITED
(FORMERLY MACKAYS
STORES LIMITED IN
ADMINISTRATION)(1)
18/05/2007 to
31/01/2033 on FRITerms (2)
£42,985
BasementAncillary30.10 sq m(324 sq ft)
Total
536.13 sq m
(5,771 sq ft)
  £42,985 

(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 are tenant only break options to terminate the lease any time prior to one year after each of the later of:
(a) the second, third and fourth Review dates (being 18 May 2017, 2022, 2027, 2032)
(b) the date on which the rent payable from and after the Relevant Review Date has been fixed 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
    10 MB
    Login to View
  • Catalogue Page
    Updated Date
    02.09.20
    File Size
    630 KB
    View PDF
  • Site Plan
    Updated Date
    02.09.20
    File Size
    886 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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