Tenancy & Accommodation
Unit |
Floor |
Use |
Floor Areas (Approx) |
Tenant |
Term |
Rent p.a.x |
Review/(Reversion) |
61 High Street |
Ground |
Retail |
64.29 sq m |
(692 sq ft) |
I. KENNEY (t/a Delicraft) |
10 years from 02/04/2015 (1) |
£12,500 |
02/04/2020 (01/04/2025) |
63 High Street (also known as 61a High Street) |
Ground |
Retail |
43.66 sq m |
(470 sq ft) |
PHONECLINIC4U LIMITED (2) |
5 years from 01/12/20 1 5 |
£8,000 (3) |
(30/1 1/2020) |
65 High Street |
Ground |
Retail |
38.55 sq m |
(415 sq ft) |
B.E. BELTON (t/a Highlands Entertainment) |
5 years from 18/02/2015 (4) |
£10,000 (3) |
(17/02/2020) |
67 High Street |
Ground Basement |
Retail Ancillary |
184.09 sq m 105.66 sq m |
(1,982 sq ft) (1,137 sq ft) |
THE EDINBURGH WOOLLEN MILL LIMITED t/a Mairi McIntyre (5) |
10 years from 01/09/201 5 (5) |
£35,00 0 |
01/09/2020 (31/08/2025) |
TOTAL |
|
|
436.25 sq m |
(4,696 sq ft) |
|
|
£65,500 |
|
(1) The lease is suject to a tenant break option on 02/04/2020, subject to 6 months’ notice.
(2) A rental deposit of £3,000 is held. The property has been sublet.
(3) The current contracted rent for Phoneclinic4U Limited is £4,670 per annum rising to £8,000 per annum on 01/12/2016. The current contracted rent for B.E Belton is £8,000 per annum rising to £10,000 per annum on 18/02/2017. The vendor has agreed to adjust the completion monies so that the property will effectively produce a total of £65,500 p.a.x. from completion of the sale.
(4) The lease is subject to a tenant break option on 28/02/2017 on 3 months notice. If the break option is not served, the landlord will pay the tenant £1,000.
(5) For the year ending 28th February 2015 The Edinburgh Woollen Mill Limited reported a turnover of £166,230,000, a pre-tax profit of £24,938,000 and a net worth of £125,599,000 (Source: Risk disk 12/09/2016). Edinburgh Woollen Mill have 265 mainstream high street stores, 88 speciality tourist shops and 27 destination sites in the UK (Source: www.ewm.co.uk 15/09/2016). The lease is subject to a tenant break option on 31/08/2020, on 6 months notice. If the break option is exercised, a penalty of £5,000 will be paid by the tenant.