157 - 159 High Street Elgin Moray IV30 1DS

  • 157 - 159 High Street<br>Elgin<br>Moray<br>IV30 1DS

157 - 159 High Street
Elgin
Moray
IV30 1DS

Heritable Retail/Restaurant/Office Investment

  • Part let to Sportswift Limited t/a Card Factory until 2023 (subject to option)
  • Comprises two ground floor retail units with selfcontained office accommodation on the upper floors
  • Prominent corner position on pedestrianised High Street
  • Nearby occupiers include Holland & Barrett, Boots the Chemist, Starbucks, WH Smith, Vodafone and Specsavers
  • Asset Management Opportunities
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    83
  • Auction
    30th March 2017
  • Rent
    £44,750 per Annum Exclusive
  • Status
    Sold Prior
  • Price
     
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of KPMG as Joint Liquidators
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Heritable Retail/Restaurant/Office Investment

  • Part let to Sportswift Limited t/a Card Factory until 2023 (subject to option)
  • Comprises two ground floor retail units with selfcontained office accommodation on the upper floors
  • Prominent corner position on pedestrianised High Street
  • Nearby occupiers include Holland & Barrett, Boots the Chemist, Starbucks, WH Smith, Vodafone and Specsavers
  • Asset Management Opportunities
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 83
  • Auction 30th March 2017
  • Rent £44,750 per Annum Exclusive
  • Status Sold Prior
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of KPMG as Joint Liquidators

Property Information

Location
Miles
40 miles east of Inverness, 65 miles north-west of Aberdeen
Roads
A96, A941
Rail
Elgin Railway Station
Air
Inverness Airport
Situation

Elgin is the principal town and administrative centre of Moray, benefiting from a large catchment area and a significant tourist draw due to the popular whisky distilleries located nearby. The property is situated in a prominent corner position on the pedestrianised High Street which, along with the St Giles Shopping Centre, forms the main retailing focus of the town. Nearby occupiers include Holland & Barrett, Boots the Chemist, Starbucks, WH Smith, Vodafone and Specsavers.

Tenure

Heritable. (Scottish Equivalent of English Freehold) .

Location
Miles
40 miles east of Inverness, 65 miles north-west of Aberdeen
Roads
A96, A941
Rail
Elgin Railway Station
Air
Inverness Airport
Situation

Elgin is the principal town and administrative centre of Moray, benefiting from a large catchment area and a significant tourist draw due to the popular whisky distilleries located nearby. The property is situated in a prominent corner position on the pedestrianised High Street which, along with the St Giles Shopping Centre, forms the main retailing focus of the town. Nearby occupiers include Holland & Barrett, Boots the Chemist, Starbucks, WH Smith, Vodafone and Specsavers.

Tenure

Heritable. (Scottish Equivalent of English Freehold) .

Description

The property comprises a ground floor retail unit and ground floor restaurant with self-contained office accommodation on the first and second floors. No. 159 High Street benefits from a return frontage to North Street.

VAT

VAT is not applicable to this lot.

Note

This property is being marketed for sale on behalf of Joint Liquidators and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Liquidators to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Liquidators are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

Completion Period

Six Week Completion

EPC

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

Description

The property comprises a ground floor retail unit and ground floor restaurant with self-contained office accommodation on the first and second floors. No. 159 High Street benefits from a return frontage to North Street.

VAT

VAT is not applicable to this lot.

Note

This property is being marketed for sale on behalf of Joint Liquidators and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Liquidators to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Liquidators are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

Completion Period

Six Week Completion

EPC

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

Tenancy & Accommodation

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Reversion
157
 Ground
 Retail/Ancillary
202.30 sq m
(2,178 sq ft)
 SPORTSWIFT
LIMITED (1) t/a
Card Factory
 10 years from
09/09/2013
(2)
 £44,750
 08/09/2023
159
 Ground
 Restaurant/
Ancillary
151.00 sq m
(1,625 sq ft)
 VACANT
      
157-159
 First
Second
 Office/Ancillary Office/Ancillary
271.40 sq m 65.70 sq
(2,921 sq ft) (707 sq ft)
 VACANT
      
Total  
690.40 sq m
(7,431 sq ft)
     £44,750
  

(1) For the year ending 31st January 2016, Sportswift Limited reported a turnover £362,226,000, pre-tax profits of £92,210,000 and a total net worth of £80,967,000 (Source: Experian Group 27/02/2017).
(2) The lease is subject to a tenant option to determine on 9th September 2018, subject to six months’ prior notice.

Contacts

Acuitus
Mhairi ArchibaldMhairi Archibald +44 (0)7718 899 341 Mhairi.archibald@acuitus.co.uk
Seller's Solicitors
CMS Cameron McKenna LLP 191 West George Street
Glasgow
Scotland
G2 2LD
Scott Allison 0141 304 6195scott.allison@cms-cmck.com

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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