14/16 Erroll Street
Peterhead
Aberdeenshire
AB42 1PX

Heritable Retail Investment

  • Let to M&Co Trading Ltd (t/a M&Co) at a rebased rent of £25,000 p.a.x.
  • Two buildings interconnected comprising approximately 669.77 sqm (7,204 sqft)
  • Town Centre location benefitting from on street car parking
  • Nearby occupiers include Farmfoods, Argos,
  • Card Factory, BrewDog and Aberdeen Council
  • VAT free investment
  • Lot
    38
  • Auction
    25/Mar/2021
  • Rent
    £25,000 per Annum Exclusive
  • Status
    Available
  • Price*
    Contact Us
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
Important Update
  • 14/16 Erroll Street<br>Peterhead<br>Aberdeenshire<br>AB42 1PX
  • Expand
  • Photos
  • Map

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

Property Information

Location
Miles
17 miles south-east of Fraserburgh
29 miles north-east of Aberdeen
Roads
A90
Rail
Aberdeen Railway Station
Air
Aberdeen Airport
Situation

Peterhead is a coastal town located approximately 17 miles south-east of Fraserburgh and 29 miles north-east of Aberdeen. The property is located on the north side of Erroll Street, a continuation of the main retail street in the town. Nearby occupiers include Farmfoods, Superdrug, Argos, Card Factory, BrewDog and Aberdeen Council.

Tenure

Heritable. (Scottish Equivalent of English Freehold).

Description

The property comprises two properties connected at ground and first floors. With retail sales at ground and first floors, there is ancillary, stock and staff areas at second floor.

VAT

VAT is not applicable to this lot.

Viewings

Please contact Mhairi Archibald (0771 8899 341)

EPC

D. See legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.x
Ground
First
Attic
Retail sales
Retail sales
Ancillary
383.22 sq m
190.26 sq m
95.78 sq m
(4,125 sq ft)
(2,048 sq ft)
(1,031 sq ft)
M&CO TRADING
LIMITED (2)
04/08/2020 to
03/08/2025(1)
£25,000
Total
669.77 sq m
(7,204 sq ft)
  £25,000

(1) Tenant option to determine the lease on the third anniversary of the term (upon six months written notice)
(2) M&Co was founded in 1834 and operate from over 300 stores. M&Co employs over 3,900 staff members (mandco.com 24/02/2021).

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
    24.03.21
    File Size
    40 MB
    Login to View
  • Catalogue Page
    Updated Date
    05.03.21
    File Size
    646 KB
    View PDF
  • Site Plan
    Updated Date
    05.03.21
    File Size
    880 KB
    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
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
Seller's Solicitors
Addleshaw Goddard LLP
Alastair Cowan 0131 222 9856alastair.cowan@addleshawgoddard.com

Useful Links

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