Let to Sainsbury’s Supermarkets Ltd on a 15 year lease (subject to option)
Benefits from a tenant option to extend the lease by 10 years on expiry
5 yearly RPI rental increases
Prominently situated in busy market town
Six Week Completion Period Available
Lot 27
Auction 29th March 2012
Rent £45,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector Supermarket/Convenience
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
12 miles south-east of Lanark, 28 miles south-west of Edinburgh, 50 miles south-east of Glasgow
Roads
A702 (connects to Edinburgh City by-pass), M74 (Junction 13)
Rail
Carstairs Railway Station (direct to Glasgow and Edinburgh Railway Stations)
Air
Edinburgh and Glasgow International Airports
Situation
The property is situated in the heart of Biggar town centre, on the east side of the High Street opposite the junction where the B7016 meets the A702. The property benefits from its proximity to the surrounding area’s residential population and a public car park opposite.
Tenure
Long Leasehold. Held for a term of 999 years expiring 2797 at a peppercorn rent.
Location
Miles
12 miles south-east of Lanark, 28 miles south-west of Edinburgh, 50 miles south-east of Glasgow
Roads
A702 (connects to Edinburgh City by-pass), M74 (Junction 13)
Rail
Carstairs Railway Station (direct to Glasgow and Edinburgh Railway Stations)
Air
Edinburgh and Glasgow International Airports
Situation
The property is situated in the heart of Biggar town centre, on the east side of the High Street opposite the junction where the B7016 meets the A702. The property benefits from its proximity to the surrounding area’s residential population and a public car park opposite.
Tenure
Long Leasehold. Held for a term of 999 years expiring 2797 at a peppercorn rent.
Description
The property comprises a ground floor open plan retail unit with prominent frontage onto Biggar’s busy High Street.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor open plan retail unit with prominent frontage onto Biggar’s busy High Street.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground
Retail
300.07 sq m
(3,230 sq ft)
SAINSBURY’S SUPERMARKETS LTD (1)
15 years from 17/10/2011 until 16/10/2026 (2)
£45,000
17/10/2016 and five yearly (3)
Totals
300.07 sq m
(3,230 sq ft)
£45,000
(1) For the year ending 19th March 2011, Sainsbury’s Supermarkets Ltd reported a turnover of £21,100,000,000, pre-tax profits of £775,000,000 and a net worth of £3,920,000,000. (Source: www.riskdisk.com 24/02/2012) (2)There is a tenant’s only option to determine at year 10, subject to 6 months’ written notice. There is also a tenant option to extend the lease by 10 years upon expiry. (3)The rent is subject to RPI linked rent reviews in years 5 and 10 compounded to a maximum increase of 3.5% per annum and a minimum increase of 1.5% per annum.
