Heritable (Scottish Equivalent to English Freehold) Retail Investment
Let to First Choice Retail Ltd and guaranteed by First Choice Holidays Limited
Located within Inverness' principal retailing core
Surrounding occupiers include Sony Centre, Oddbins, Barclays Bank, British Heart Foundation Jessops, Clydesdale Bank and Santander
Please note that the property adjoins Lot 48 in the catalogue
Lot 40
Auction 8th July 2010
Rent £37,000 per Annum
Status Sold Post
Price
Sector High Street Retail
Auction Venue Millennium Hotel 39-44 Grosvenor Square Mayfair London W1K 2HP
Property Information
Location
Estimated Residential Population
40,949
Miles
104 miles north-west of Aberdeen
157 miles north of Edinburgh
170 miles north-east of Glasgow
Roads
A9, A96, A82
Rail
Inverness Railway Station
Air
Inverness Airport
Situation
The property is prominently located on Union Street, one of Inverness' principal retailing streets close to both the High Street and the Eastgate Shopping Centre. Surrounding occupiers include, Sony Centre, Oddbins, Barclays Bank, British Heart Foundation Jessops, Clydesdale Bank and Santander.
Tenure
Heritable. (Scottish Equivalent to English Freehold)
Location
Estimated Residential Population
40,949
Miles
104 miles north-west of Aberdeen
157 miles north of Edinburgh
170 miles north-east of Glasgow
Roads
A9, A96, A82
Rail
Inverness Railway Station
Air
Inverness Airport
Situation
The property is prominently located on Union Street, one of Inverness' principal retailing streets close to both the High Street and the Eastgate Shopping Centre. Surrounding occupiers include, Sony Centre, Oddbins, Barclays Bank, British Heart Foundation Jessops, Clydesdale Bank and Santander.
Tenure
Heritable. (Scottish Equivalent to English Freehold)
Description
The property comprises a TRADITIONAL RETAIL UNIT providing WELL CONFIGURED RETAILING SPACE at ground floor level with STAFF AND STORAGE ACCOMMODATION at basement level.
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 TRADITIONAL RETAIL UNIT providing WELL CONFIGURED RETAILING SPACE at ground floor level with STAFF AND STORAGE ACCOMMODATION at basement level.
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 Basement
Retail Storage
91.95 sq m 70.56 sq m
(990 sq ft) (760 sq ft)
FIRST CHOICE RETAIL LTD (guaranteed by First Choice Holidays Limited) (1)
15 years from 20/10/1999 on a full repairing and insuring lease
£37,000
30/09/2014
Totals
162.51 sq m
(1,750 sq ft)
£37,000
1) First Choice Retail Ltd is a subsidiary of TUI UK Limited, part of the TUI Travel plc group of companies the UK's leading leisure travel company. (Source:www.firstchoice.co.uk) For the year ending 30th September 2008, First Choice Holidays Limited reported a turnover of 2,494,000, pre-tax profits of 238,142,000 and a net worth of 674,559,000. (Source: www.riskdisk.com 10/06/2010)
Contacts
Associate Auctioneers
Montagu Evans 302 St Vincent Street Glasgow G2 5RU
