Heritable Retail Investment
Heritable Retail Investment
Wick forms the administrative and community facilities for the Caithness region. Highland Council offices are located in the town along with the general hospital, swimming pool and retail hub. The town is part of the popular tourist routes in the north of Scotland including the attraction at John O'Groats. The property is located on the busy High Street in the town close to the junction with the A99. Nearby occupiers include TSB, Ladbrokes and Semichem.
Heritable.
Wick forms the administrative and community facilities for the Caithness region. Highland Council offices are located in the town along with the general hospital, swimming pool and retail hub. The town is part of the popular tourist routes in the north of Scotland including the attraction at John O'Groats. The property is located on the busy High Street in the town close to the junction with the A99. Nearby occupiers include TSB, Ladbrokes and Semichem.
Heritable.
The property comprises a two storey building with retail sales at ground floor with ancillary and storage accommodation at first floor level. There is access to the property at the rear from Mowat Lane.
VAT is applicable to this lot.
Please contact Mhairi Archibald (07718 899341)
See legal pack at www.acuitus.co.uk
The property comprises a two storey building with retail sales at ground floor with ancillary and storage accommodation at first floor level. There is access to the property at the rear from Mowat Lane.
VAT is applicable to this lot.
Please contact Mhairi Archibald (07718 899341)
See legal pack at www.acuitus.co.uk
| Floor | Use | Floor Areas (Approx) |
Tenant | Term | Rent p.a.x | Review | |
|---|---|---|---|---|---|---|---|
| Ground | Retail sales | 219.26 sq m |
2,360 sq ft |
MERIDIAN REALISATION LIMITED (FORMERLY MACKAYS STORES LIMITED IN ADMINISTRATION)(1) |
18/05/2007 to 31/01/2033 (2)(3) |
£0 | |
| First | Ancillary | 359.86 sq m | 3,873 sq ft | ||||
| Total |
579.12 sq m |
6,233 sq ft |
£0 | ||||
(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) Tenant and landlord break options on three months' notice
(3) The lease is subject to a Schedule of Condition
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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