10 - 16 High Street Fort William Highlands PH33 6AT

10 - 16 High Street
Fort William
Highlands
PH33 6AT

Heritable Retail Investment

Let to Mountain Warehouse Limited on an extended lease until 2030 (subject to option)
Popular tourist destination close to Ben Nevis and Glencoe
Prominent pedestrianised town centre location
Nearby occupiers include Boots, WH Smith, Tesco Metro, Edinburgh Woollen Mill, Fat Face, Clydesdale, RBS and TSB

Lot
36
Auction
13th July 2017
Rent
£80,000 per Annum Exclusive
Status
Sold
Price
£930,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of St John’s College, Oxford

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Heritable Retail Investment

Let to Mountain Warehouse Limited on an extended lease until 2030 (subject to option)
Popular tourist destination close to Ben Nevis and Glencoe
Prominent pedestrianised town centre location
Nearby occupiers include Boots, WH Smith, Tesco Metro, Edinburgh Woollen Mill, Fat Face, Clydesdale, RBS and TSB

Lot 36
Auction 13th July 2017
Rent £80,000 per Annum Exclusive
Status Sold
Price £930,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of St John’s College, Oxford

Property Information

Location

Miles: 64 miles south-west of Inverness, 105 miles north-west of Glasgow
Roads: A82, A830
Rail: Fort William Railway Station
Air: Inverness Airport

Situation

Fort William is the largest town in the West Highlands and is a popular tourist destination all year round due to its proximity to Ben Nevis and Glencoe. The property is prominently situated in the heart of the town centre on the east side of the pedestrianised High Street and benefits from a substantial public car park being located to the rear. Nearby occupiers include Boots, WH Smith, Tesco Metro, Edinburgh Woollen Mill , Fat Face, Clydesdale, RBS and TSB.

Tenure

Heritable. (Scottish equivalent of English Freehold).

Location

Miles: 64 miles south-west of Inverness, 105 miles north-west of Glasgow
Roads: A82, A830
Rail: Fort William Railway Station
Air: Inverness Airport

Situation

Tenure

Heritable. (Scottish equivalent of English Freehold).

Description

The property comprises a double fronted ground floor retail unit with ancillary accommodation on the first and second floors.

VAT

VAT is applicable to this lot.

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 double fronted ground floor retail unit with ancillary accommodation on the first and second floors.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

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	Reviews
Ground Mezzanine First Second	Retail/Ancillary Ancillary Ancillary Ancillary	425.49 sq m 14.86 sq m 403.20 sq m 34.84 sq m	(4,580 sq ft) (160 sq ft) (4,340 sq ft) (375 sq ft)	MOUNTAIN WAREHOUSE LIMITED (1)	Approx 21 years from 17/08/2009 until 28/07/2030 on a full repairing and insuring lease (2)	£80,000	29/07/2020 & 29/07/2025
Totals		878.39 sq m	(9,455 sq ft)			£80,000

(1) Mountain Warehouse was established in 1997 and is the UK’s largest specialist outdoor retailer with over 200 stores throughout the UK. (www.mountainwarehouse.com). For the year ending 28th February 2016, Mountain Warehouse Limited reported a turnover of £141,403,000, pre-tax profits of £16,246,000 and a total net worth £49,311,000 (Source: Experian Group 20/04/2017).
(2) The property was originally let to Mountain Warehouse Limited for a term of 10 years from 17th August 2009. With effect from the 29th July 2015, the lease was extended to expire on 28th July 2030, subject to a tenant option to determine on 29th July 2025.