161-163 High Street Elgin IV30 1DW

  • 161-163 High Street<br>Elgin<br>IV30 1DW

161-163 High Street
Elgin
IV30 1DW

Heritable Retail Investment

  • Entirely let to Poundland Limited until 15th November 2025
  • Prominent corner position on the High Street
  • Nearby occupiers include Clydesdale Bank, Starbucks, Boots Opticians, Card Factory and TK Maxx
  • Lease just extended by 6 years
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    40
  • Auction
    19th May 2016
  • Rent
    £80,000 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price
     
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
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Heritable Retail Investment

  • Entirely let to Poundland Limited until 15th November 2025
  • Prominent corner position on the High Street
  • Nearby occupiers include Clydesdale Bank, Starbucks, Boots Opticians, Card Factory and TK Maxx
  • Lease just extended by 6 years
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 40
  • Auction 19th May 2016
  • Rent £80,000 per Annum Exclusive
  • Status Withdrawn Post
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
40 miles east of Inverness, 65 miles north west of Aberdeen
Roads
A96
Rail
Elgin Station (ScotRail) 50 minutes to Inverness
Air
Inverness Airport
Situation

The property is situated in a prominent corner location on the northern side of the High Street at its junction with North Street. This section of the High Street, along with the St Giles Shopping Centre, forms the main retailing focus of the town. Nearby occupiers include Starbucks, Card Factory, Clydesdale Bank, TK Maxx and Boots Opticians.

Tenure

Heritable. (Scottish Equivalent of English Freehold)

Location
Miles
40 miles east of Inverness, 65 miles north west of Aberdeen
Roads
A96
Rail
Elgin Station (ScotRail) 50 minutes to Inverness
Air
Inverness Airport
Situation

The property is situated in a prominent corner location on the northern side of the High Street at its junction with North Street. This section of the High Street, along with the St Giles Shopping Centre, forms the main retailing focus of the town. Nearby occupiers include Starbucks, Card Factory, Clydesdale Bank, TK Maxx and Boots Opticians.

Tenure

Heritable. (Scottish Equivalent of English Freehold)

Description

The property comprises an imposing retail unit with ancillary accommodation over ground, first, second and attic floors. Both the second floor and the attic have been sealed off. The extensive return frontage onto North Street is two storeys with a further single storey extension beyond this. There is a goods entrance to the rear of the property accessed from Alexandra Road.

Six Week Completion

VAT

VAT is applicable to this lot.

Viewings

Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Mhairi Jarvis. Telephone: +44 (0)131 552 5191.

EPC

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

Description

The property comprises an imposing retail unit with ancillary accommodation over ground, first, second and attic floors. Both the second floor and the attic have been sealed off. The extensive return frontage onto North Street is two storeys with a further single storey extension beyond this. There is a goods entrance to the rear of the property accessed from Alexandra Road.

Six Week Completion

VAT

VAT is applicable to this lot.

Viewings

Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Mhairi Jarvis. Telephone: +44 (0)131 552 5191.

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 (rear)
First
Second		 Retail
Storage
Storage
Disused
1,075.83 sq m
94.76 sq m
583.90 sq m
Not Measured
(11,580 sq ft)
(1,020 sq ft)
(6,285 sq ft)
 POUNDLAND
LIMITED (1)		 16 years from 29/09/2009 until
15/11/2025 on a full repairing
and insuring lease (2)		 £80,000 29/09/2020
Total  
1,754.49 sq m
(18,885 sq ft)
     £80,000

(1) For the year ending 29/03/2015, Poundland Limited reported a turnover of £1,111,526,000, pre-tax profits of £45,922,000 and a total net worth of £93,866,000. (Source: www.riskdisk.com 30/03/2016)
(2) There is a Schedule of Condition attached to the lease.

Contacts

Acuitus
Mhairi ArchibaldMhairi Archibald +44 (0)7718 899 341 Mhairi.archibald@acuitus.co.uk
Seller's Solicitors
Shepherd & Wedderburn 1 Exchange Crescent, Conference Square
Edinburgh
EH3 8UL
Michael Henderson 0131 473 5189Michael.Henderson@shepwedd.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
AquillaNatasha Ward+44 (0)20 3159 4314+44 (0)7545 208 759natashaw@aquillaib.co.uk

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