34-40 John Street Penicuik near Edinburgh , Midlothian EH26 8AB

34-40 John Street
Penicuik
near Edinburgh , Midlothian
EH26 8AB

Unbroken Heritable Retail Parade Investment

Retail parade comprising four shops
Let to tenants including Lloyds Pharmacy and Oxfam
Approximately 11,600 sq ft
Prominent pedestrianised town centre location, close to Lidl, B&M Bargains, Post Office and RBS Bank
Asset management opportunities
High Yielding on Guide Price
On behalf of Trustees

Lot
47
Auction
28th March 2018
Rent
£89,200 per Annum Exclusive
Status
Sold
Price
£560,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Unbroken Heritable Retail Parade Investment

Retail parade comprising four shops
Let to tenants including Lloyds Pharmacy and Oxfam
Approximately 11,600 sq ft
Prominent pedestrianised town centre location, close to Lidl, B&M Bargains, Post Office and RBS Bank
Asset management opportunities
High Yielding on Guide Price
On behalf of Trustees

Lot 47
Auction 28th March 2018
Rent £89,200 per Annum Exclusive
Status Sold
Price £560,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 10 miles south of Edinburgh City Centre; 50 miles east of Glasgow
Roads: A701, A702
Air: Edinburgh Airport

Situation

Penicuik is an established market town with a population of over 25,000 people. The property is located on the western side of the pedestrianised section of John Street, in the heart of Penicuik town centre. National operators represented within the town include Lidl, Greggs, Farmfoods, B&M Bargains and The Original Factory Shop.

Tenure

Heritable. (Scottish Equivalent of Freehold).

Location

Miles: 10 miles south of Edinburgh City Centre; 50 miles east of Glasgow
Roads: A701, A702
Air: Edinburgh Airport

Situation

Tenure

Heritable. (Scottish Equivalent of Freehold).

Description

The property, an unbroken retail parade, comprises four shops, with each shop providing ground floor retail accommodation and first floor ancillary accommodation, apart from 38 John Street which is ground floor retail only.

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

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	Review
Ground First	Retail/Ancillary Ancillary	66.79 sq m 31.30 sq m	(719 sq ft) (337 sq ft)	LLOYDS PHARMACY LIMITED (1)	10 years from 11/11/2008	£12,000	-
Ground First	Retail/Ancillary Ancillary	73.06 sq m 32.06 sq m	(786 sq ft) (345 sq ft)	OXFAM (2)	24 years from 05/03/1993 (Holding Over)	£12,000	-
Ground	Retail/Ancillary	74.88 sq m	(806 sq ft)	NEIL MACLEAN HAIRDRESSING LIMITED	5 years from 06/06/2016	£10,000	28/05/2019
Ground First	Retail/Ancillary Ancillary	465.99 sq m 334.99 sq m	(5,016 sq ft) (3,606 sq ft)	ROCHPION PROPERTIES LLP (3)	25 years from 11/02/1994	£55,000	-
Total		1,079.07 sq m	(11,615 sq ft)			£89,200

(1) Lloyds Pharmacy Limited trade from over 1,500 pharmacies in the UK, employing over 17,000 staff (www.lloydspharmacy.com).
(2) Oxfam is a registered charity operating in 90 countries worldwide, with around 650 charity shops across the UK. For the year ending 31st March 2017, Oxfam reported a total net worth of £76,600,000 (Sources: www.oxfam.org.uk and Experian Group 19/02/2018).
(3) Rochpion Properties LLP’s ultimate holding company is Co-operative Group Limited. For the year ending 31st December 2016, Rochpion Properties LLP reported pre-tax profits of £6.86 million and a total net worth of £83.71 million (Experian Group 19/02/2018). Please note that the tenant is not currently in occupation and the property is currently occupied by a charity shop by way of a Licence.