Heritable Retail Investment
Heritable Retail Investment
Saltcoats is a popular town in North Ayrshire. The town is almost equidistant from both Glasgow to the north and Ayr to the south. The property is situated in a prominent position on the pedestrianised main retailing street in Saltcoats town centre. Neighbouring occupiers include Peacocks, Specsavers and Subway.
Heritable.
Saltcoats is a popular town in North Ayrshire. The town is almost equidistant from both Glasgow to the north and Ayr to the south. The property is situated in a prominent position on the pedestrianised main retailing street in Saltcoats town centre. Neighbouring occupiers include Peacocks, Specsavers and Subway.
Heritable.
The property comprises a two storey building with retail area floor at ground floor and ancillary accommodation at first floor.
VAT is applicable to this lot.
Please contact Mhairi Archibald (07718 89934)
See legal pack at acuitus.co.uk
The property comprises a two storey building with retail area floor at ground floor and ancillary accommodation at first floor.
VAT is applicable to this lot.
Please contact Mhairi Archibald (07718 89934)
See legal pack at acuitus.co.uk
| Floor | Use | Floor Areas (Approx) |
Tenant | Term | Rent p.a.x | Review | |
|---|---|---|---|---|---|---|---|
| Ground | Retail sales | 279.19 sq m |
3,005 sq ft |
MERIDIAN REALISATION LIMITED (FORMERLY MACKAYS STORES LIMITED IN ADMINISTRATION)(1) |
25 years from 18/05/2007 to 31/01/2033 (2) |
£49,590 | |
| First | Ancillary | 264.14 sq m | 2,843 sq ft | ||||
| Total |
543.33 sq m |
5,848 sq ft |
£49,590 | ||||
(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 £1,500+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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