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

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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

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent 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.