Tesco Express, 43-45 Union Street
Aberdeen
AB11 5BN

Heritable Supermarket Investment

  • Prime location on Union Street opposite the Marischal Square office development
  • New 20 year lease to Tesco Stores Limited (subject to an option)
  • Neighbouring occupiers include Greggs, Semichem, Poundland, Miller and Carter and Brewdog
  • The rent is reviewed to open market with a cap of 2.5% p.a. compounded annually to a maximum of 13.14% over five years
  • Currently producing £79,000 p.a.x.
  • Lot
    16
  • Auction
    11/Feb/2021
  • Rent
    £79,000 per Annum Exclusive
  • Status
    Available
  • Price*
    Contact Us
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • Tesco Express, 43-45 Union Street<br>Aberdeen<br>AB11 5BN
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  • Map

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

Property Information

Location
Miles
67 miles north-east of Dundee
Roads
A90, A96
Rail
Aberdeen Railway Station
(Mainline and Scotrail)
Air
Aberdeen Airport
Situation

Aberdeen is the third largest city in Scotland, known globally as an oil and gas centre and energy research hub. The property is situated on the south side of the Union Street at its eastern end, between the St Nicholas Centre and Broad Street linking to the Marischal Square office development. Union Street is the principal retail thoroughfare in Aberdeen city centre. Neighbouring occupiers include Greggs, Ladbrokes, Poundland, Miller & Carter and Semichem.

Tenure

Heritable.

Description

The property will comprise a newly fitted out Tesco Express supermarket arranged over ground and basement floors within a C listed granite tenement building (the upper floors are in separate ownership). Retail sales accommodation will be provided at ground floor level together with storage and plant at basement level. The property is currently being fitted out by the tenant.

VAT

VAT is applicable to this lot.

Viewings

Please contact Mhairi Archibald (07718899341)

EPC

Band E. Please see the legal pack for further information.

Tenancy & Accommodation

FloorFloor Areas
(Approx)
TenantTermRent p.a.xReviews
Ground
Basement
294.90 sq m
309.90 sq m
(3,174 sq ft)
(3,336 sq ft)
TESCO STORES PLC
(1)
20 years from
07/09/2020 to
06/09/2040 (2)
£79,00007/09/2025 and
five yearly
thereafter (3)
Total
604.80 sq m
(6,510 sq ft)
  £79,000 

(1) Tesco Stores PLC have a turnover of £42,951,000,000, a pre-tax profit of £1,151,000,000 and total assets of £24,329,000,000. Tesco trade from over 3,700 stores in the UK and Ireland (Source tesco.com)
(2) There is a tenant break option at year 10 (07/09 2030) on giving 6 months notic3
(3) The rent is reviewed to open market with a cap of 2.5% p.a. compound (maximum 13.14% over 5 years)

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
    10.02.21
    File Size
    32 MB
    Login to View
  • Catalogue Page
    Updated Date
    22.01.21
    File Size
    2 MB
    View PDF
  • Site Plan
    Updated Date
    22.01.21
    File Size
    4 MB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    07.10.20
    File Size
    1,016 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
Billy StruthBilly Struth +44 (0)20 7034 4854billy.struth@acuitus.co.uk
Seller's Solicitors
Burnett & Reid LLP 15 Golden Squae
Aberdeen
AB10 1WF
Rachael MacKay 01224 644 333rachael.mackay@burnett-reid.co.uk

Useful Links

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