3 Academy Street Forfar Angus DD8 2XF

3 Academy Street
Forfar
Angus
DD8 2XF

Heritable Retail Investment

Entirely let to B&M Retail Limited until 2023 with fixed rental uplift in 2018
Adjacent to convenience store & petrol station and Academy Medical Centre
Approximate site area of 0.936 hectares (2.313 acres)
Large on-site car park
Fixed rental uplifts with the rent rising to £120,000 p.a. in 2018
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
71
Auction
22nd October 2015
Rent
£100,000 per Annum Exclusive
Status
Sold
Price
£1,325,000
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On the Instructions of The Cooperative Estates

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Heritable Retail Investment

Entirely let to B&M Retail Limited until 2023 with fixed rental uplift in 2018
Adjacent to convenience store & petrol station and Academy Medical Centre
Approximate site area of 0.936 hectares (2.313 acres)
Large on-site car park
Fixed rental uplifts with the rent rising to £120,000 p.a. in 2018
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 71
Auction 22nd October 2015
Rent £100,000 per Annum Exclusive
Status Sold
Price £1,325,000
Sector
High Street Retail
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On the Instructions of The Cooperative Estates

Property Information

Location

Miles: 14 miles north of Dundee, 29 miles north-west of Perth, 51 miles south of Aberdeen
Roads: A932, B9128, A90
Rail: Arbroath Rail
Air: Dundee Airport

Situation

Forfar is a popular market town in the east of Scotland, 14 milesnorth of Dundee. The property is located in the town centre on the southern side of Academy Street, which runs parallel with the High Street. The property is part of a larger site, which houses a Cooperative Food & Petrol Station and Academy Medical Centre.

Tenure

Heritable. (Scottish equivalent of Freehold)

Location

Miles: 14 miles north of Dundee, 29 miles north-west of Perth, 51 miles south of Aberdeen
Roads: A932, B9128, A90
Rail: Arbroath Rail
Air: Dundee Airport

Situation

Tenure

Heritable. (Scottish equivalent of Freehold)

Description

The property comprises a stand alone purpose built ground floor retail unit. The property benefits from on-site car parking and a total site area of approximately 0.936 hectares (2.313 acres).

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

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	Retail/ Ancillary	3,670.85 sq m	(39,513 sq ft)	B&M RETAIL LIMITED (1)	10 years from 28/05/2013 until 27/05/2023 on a full repairing and insuring lease (2)	£100,000	28/05/2018 (3)
Totals		3,670.85 sq m	(39,513 sq ft)			£100,000 rising to £120,000 p.a. in 2018

(1) For the year ending 28th March 2015, B & M Retail Limited reported a turnover of £1,526,181,000, pre-tax profits of £151,063,000 and a total net worth of £333,599,000. (Source: Experian Group 22/09/2015)
(2)The lease is subject to a schedule of condition.
(3) The 2018 rent review provides a fixed rental uplift.