Heritable Retail Investment
Heritable Retail Investment
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.
Heritable.
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.
Heritable.
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 is applicable to this lot.
Please contact Mhairi Archibald (0771 8899341)
See legal pack at www.acuitus.co.uk
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 is applicable to this lot.
Please contact Mhairi Archibald (0771 8899341)
See legal pack at www.acuitus.co.uk
| Floor | Use | Floor Areas (Approx) |
Tenant | Term | Rent p.a.x | Review | |
|---|---|---|---|---|---|---|---|
| Ground | Retail) | 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 | |
| Basement | Ancillary | 30.10 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 £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
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