For Sale Retail Investment Portfolio Aberdeen, Galashiels & Hawick
Home Summary Tenancy Schedule Aberdeen Galashiels Hawick Covenant Strength Further Info Portfolio Summary 3 retail units all let to. Properties located in: Aberdeen, Galashiels and Hawick All let on 25 year leases from Feb 2005 with rent reviews every 5 years. Tenant operated break clause in 2025. Guaranteed annual uplift of 2.5% on rent passing, compounded 5 yearly. Current total rent passing of 259,904 per annum. Offers are invited in the region of 3,150,000.
Home Summary Tenancy Schedule Aberdeen Galashiels Hawick Covenant Strength Further Info A90 Aberdeen Aberdeen Tenancy Schedule Unit Tenant Lease Terms Aberdeen, 306-308 Holburn Street, AB10 7GX Lease Expiry: 27/2/30 Break: 28/2/25 Rent review: 28/2/20 (guaranteed uplift to 104,513) Current Rent: 92,374 A9 A90 Galashiels, 33-43 High Street, TD1 1RY Lease Expiry: 27/2/30 Break: 28/2/25 Rent review: 28/2/20 (guaranteed uplift to 75,909) Rent: 67,092 A85 A91 A92 Hawick, 43 Victoria Rd, TD9 7AH Lease Expiry: 27/2/30 Break: 28/2/25 Rent review: 28/2/20 (guaranteed uplift to 113,637) Rent: 100,438 A91 M90 A985 Glasgow M80 M9 M8 Edinburgh A1 A68 M77 A725 A71 M74 A71 A702 A72 A7 A701 Galashiels Galashiels A1 A697 A68 A7 Hawick A74(M) Hawick
Home Summary Tenancy Schedule Aberdeen Galashiels Hawick Covenant Strength Further Info Location Description Gallery Aberdeen 306-308 Holburn Street, AB10 7GX Location Aberdeen is Scotland s third largest City and has a strong local economy benefiting from well-established fishing and North Sea oil production industries. The property occupies a prominent position on Holburn Street (A9013) a main arterial route which provides access to Aberdeen City Centre approximately 1 mile to the north east and the A90 at its junction with the Bridge of Dee approximately 1 mile to the south west. The Property The A90 is the main route leading to Aberdeen from the south which also connects with the cities of Dundee and Perth situated approximately 65 and 85 miles to the south west of Aberdeen.
Home Summary Tenancy Schedule Aberdeen Galashiels Hawick Covenant Strength Further Info Location Description Gallery Aberdeen Description The property comprises a modern purpose built retail unit which is situated on an irregular shaped site. At the front of the unit there is a tarmacadam surfaced area utilised as a car park and loading area. The building is of brick construction beneath pitched and hipped slate roof sections. A steel roller shutter loading door opens on to the surfaced area at the front of the premises. The main retail area occupies the majority of the floor space with the remainder providing space for stock storage, kitchen, staff office and staff male and female w/c s. Internally, the unit has been fitted out to standard Iceland specification with tiled floors, suspended ceilings with inset fluorescent strip lighting, air conditioning and CCTV. There are two fire exits situated in the main retail area. Externally, the Tarmacadam surfaced area at the front of the property provides enough space for 19 vehicles, with one space specifically designated for less able bodied customers. The premises have an EPC rating of D(49). A copy of the certificate is available upon request. The property provides the following accommodation: Unit Net Sales Area sq m (sq ft) Total Gross Floor Area sq m (sq ft) Iceland 385 (4,144) 554 (5,959) Total site area approximately: 0.36 acres
3 retail units all let to Location Description Home Summary Tenancy Schedule Aberdeen Galashiels Hawick Covenant Strength Gallery Rollover images to see larger Further Info
Home Summary Tenancy Schedule Aberdeen Galashiels Hawick Covenant Strength Further Info Location Description Gallery Galashiels 33-43 High Street, TD1 1RY Location Galashiels is a small town situated in the Scottish Borders approximately 35 miles south east of Edinburgh. The A7 is the main route leading to Galashiels from both the north and south and provides access to Edinburgh and also Hawick circa 18 miles to the south. The property is situated on High Street and occupies a prominent position just outside the main retail centre. High Street is one of the main routes running through Galashiels town centre and is part of the one-way system adopted by the town. The Property
Home Summary Tenancy Schedule Aberdeen Galashiels Hawick Covenant Strength Further Info Location Description Gallery Galashiels Description The property comprises a two storey end of terrace retail unit. The building is of brick construction beneath flat felt roof sections. The side elevation has been rendered and there is a timber constructed canopy over the High Street elevation. The ground floor is utilised as the main retail space with an ancillary area that contains a loading door that opens up in to a small yard area at the rear of the premises. There is also a goods lift with a 500kg loading capacity. The first floor is utilised for stock storage, staff kitchen, staff office and staff w/c s. The main retail area has been fitted out to standard Iceland specification with linoleum tiled flooring, suspended ceilings with inset fluorescent strip lighting, air conditioning and CCTV. A small section of the ground floor has been has been sub-let to Pearson Professional Assessments Ltd who operate a driver learning centre and is fitted out to their specification. Whilst there isn t a dedicated car park for the property there is a substantial public pay and display car park situated at the rear of the of the premises. The premises have an EPC rating of F(100). A copy of the certificate is available upon request. The unit provides the following accommodation: Unit Net Sales Area sq m (sq ft) Total Gross Floor Area sq m (sq ft) Iceland 496 (5,344) 869 (9,349) Pearsons 80 (860) 80 (860) Total 576 (6,204) 949 (10,209) Total site area approximately: 0.19 acres
Home Summary Tenancy Schedule Aberdeen Galashiels Hawick Covenant Strength Further Info Location Description Rollover images to see larger
Home Summary Tenancy Schedule Aberdeen Galashiels Hawick Covenant Strength Further Info Location Description Gallery Hawick 43 Victoria Rd, TD9 7AH Location Hawick is a town located in the Scottish borders on the banks of the River Teviot and is situated approximately 18 miles south of Galashiels and circa 15 miles north west from the border to England. The A7 is the main road which services the town from the north and south and provides access to junction 44 of the M6 motorway approximately 40 miles to the south. The property is located on the corner of Victoria Road and Albert Road with the main frontage opening on to Victoria Road. The unit is located directly opposite Common Haugh public pay and display car park which is the largest car park in Hawick, offering 410 spaces. The Property
Home Summary Tenancy Schedule Aberdeen Galashiels Hawick Covenant Strength Further Info Location Description Gallery Hawick Description The property comprises a large stand alone part one, part two storey retail unit. The building is of steel frame construction with breezeblock elevations and external pebble dash rendering beneath flat roof sections. The second storey situated at the rear of the building benefits from solid pre-cast concrete slab flooring (loading capacity unknown). There is also a metal clad canopy constructed across the upper section of the Victoria Road elevation. The majority of ground floor is primarily utilised as the main retail area. However, the main stock storage and staff office are also situated on the ground floor. The first floor provides a staff kitchenette, male and female w/c s and a large open plan unused area in need of refurbishment. The main retail area has been fitted out to standard Iceland specification with linoleum tiled flooring, suspended ceilings with inset fluorescent strip lighting, air conditioning and CCTV. A large section of the ground floor has been sub-let to NK Carpets Ltd t/a Carpetways for use as a carpet showroom. The premises have an EPC rating of B(29). A copy of the certificate is available upon request. The unit provides the following accommodation: Unit Net Sales Area sq m (sq ft) Total Gross Floor Area sq m (sq ft) Iceland 432 (4,653) 1,238 (13,327) Carpetways 500 (5,379) 554 (5,951) Total 932 (10,032) 1,792 (19,278) Total site area: approximately 0.59 acres
3 retail units all let to Location Description Home Summary Tenancy Schedule Aberdeen Galashiels Hawick Covenant Strength Gallery Rollover images to see larger Further Info
Home Summary Tenancy Schedule Aberdeen Galashiels Hawick Covenant Strength Further Info Tenants Covenant Strength Iceland is a national supermarket operator with an instantly recognisable brand identity, associated primarily with the sale of frozen produce. The company has grown steadily over recent years from having 15 stores located around the North West in 1975 to having 895 stores distributed throughout the UK at present. Iceland was voted as Best Big Company to Work For in the UK in 2014 at the Best Companies Awards sponsored by The Sunday Times. For its financial year ending 27/03/2015 reported an annual turnover of 2.68bn with a pre-tax profit of 58.8million. The company s estimated net worth is approximately 710milion.
Home Summary Tenancy Schedule Aberdeen Galashiels Hawick Covenant Strength Further Info Investment Proposal Offers are invited in the region of 3,150,000, subject to contract and exclusive of VAT for the heritable interest in all three properties. Offers are also invited on the individual units, separate guide prices are available upon request. A purchase at this level represents an initial yield of 7.8% after taking into account purchaser costs of 5.8%. In 2020 this will reflect a reversionary yield of 8.8% and 10% in 2025. Further Information VAT VAT will be charged on top of the agreed sale price. The transaction may be treated as a TOGC if the purchaser satisfies the relevant criteria. CONTACT US For further information please contact the agent Eddisons; James Cole / Holly Surplice DD: 0161 837 7355 / 0161 837 7359 E: james.cole@eddisons.com holly.surplice@eddisons.com Important notice Eddisons is the trading name of Eddisons Commercial Ltd and Eddisons Commercial (Property Management) Ltd (The Company). The Company for itself and for the vendor(s) or lessor(s) of this property for whom it acts as agents gives notice that: (i) The Particulars are a general outline only for the guidance of intending purchasers or lessees and do not constitute an offer or contract. (ii) All descriptions are given in good faith and are believed to be correct, but any intending purchasers or lessees should not rely on them as statements of fact and must satisfy themselves by inspection or otherwise as to their correctness. (iii) None of the buildings services or service installations have been tested and are not warranted to be in working order. (iv) No employee of the Company has any authority to make or give any representation or warranty whatever in relation to the property. (v) Unless otherwise stated all prices and rents are quoted exclusive of VAT. (vi) Where applicable an Energy Performance Certificate is available upon request.