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
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)
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
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.
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.
