Let to Co-Operative Group (CWS) Limited until 2031 (subject to option)
Rent review in 2011
Affluent Aberdeen commuter town location
Benefits from 0n-site parking
Lot 3
Auction 8th July 2010
Rent £40,000 per Annum
Status Sold
Price £565,000
Sector Supermarket
Auction Venue Millennium Hotel 39-44 Grosvenor Square Mayfair London W1K 2HP
Property Information
Location
Miles
8 miles north of Aberdeen city centre
Roads
A90
Rail
Aberdeen Railway Station
Air
Aberdeen Airport
Situation
The property is prominently located at the entrance to this affluent and fast growing Aberdeen commuter town within a predominantly residential area. The town is located a short distance south of the proposed Trump International Golf Links development. Nearby occupiers include Links Nursery, Dickies Chemist and a council library.
Tenure
Long Leasehold. Held from Aberdeenshire Council for a term of 175 years from 25th August 2005 until 2180 The rent payable under the ground lease is 1 per annum
Location
Miles
8 miles north of Aberdeen city centre
Roads
A90
Rail
Aberdeen Railway Station
Air
Aberdeen Airport
Situation
The property is prominently located at the entrance to this affluent and fast growing Aberdeen commuter town within a predominantly residential area. The town is located a short distance south of the proposed Trump International Golf Links development. Nearby occupiers include Links Nursery, Dickies Chemist and a council library.
Tenure
Long Leasehold. Held from Aberdeenshire Council for a term of 175 years from 25th August 2005 until 2180 The rent payable under the ground lease is 1 per annum
Description
The property comprises a LARGE SINGLE STOREY CONVENIENCE STORE within a modern neighbourhood retail parade. The property is sub-divided to provide a large open plan retail area and an open plan store with cellular staff accommodation. There is parking for approximately 33 cars to the front of the property and staff parking and servicing to the rear, the use of which is common to the whole development.
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 LARGE SINGLE STOREY CONVENIENCE STORE within a modern neighbourhood retail parade. The property is sub-divided to provide a large open plan retail area and an open plan store with cellular staff accommodation. There is parking for approximately 33 cars to the front of the property and staff parking and servicing to the rear, the use of which is common to the whole development.
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
Review
Ground Ground
Retail Store/Staff
189.45 sq m (2,039 sq ft) 131.06 sq m (1,411 sq ft)
CO-OPERATIVE GROUP (CWS) LIMITED (1)
25 years from 18/04/2006 until 2031 on a full repairing and insuring lease (2)
£40,000
18/04/2011 and 5 yearly thereafter
Totals
302.51 sq m (3,450 sq ft)
£40,000
(1)Co-Operative Group (CWS) Ltd is now known as Co-Operative Group Limited. In 2009, The Co-Operative Group reported a profit for the year of 160,000,000 and total net assets of 4,523,000,000. (Source: The Co-Operative Group Annual Review 2009) (2)The tenant has an option to determine the lease at the expiry of the fifteenth year, upon a minimum of 3 months' notice.
