Heritable Retail Investment
Heritable Retail Investment
Bathgate is a popular town in West Lothian located on the M8 motorway linking Edinburgh and Glasgow. The property is situated in a prominent position on the east side of the pedestrianised George Street, Bathgate’s main retail thoroughfare. Nearby occupiers include WH Smith, Boots the Chemist, Santander, Poundland and Greggs
Heritable. (Scottish equivalent of freehold)
Bathgate is a popular town in West Lothian located on the M8 motorway linking Edinburgh and Glasgow. The property is situated in a prominent position on the east side of the pedestrianised George Street, Bathgate’s main retail thoroughfare. Nearby occupiers include WH Smith, Boots the Chemist, Santander, Poundland and Greggs
Heritable. (Scottish equivalent of freehold)
The property comprises retail accommodation on the ground floor.
VAT is applicable to this lot.
Six Week Completion
The EPC will be available to view online in the solicitor’s legal pack.
The property comprises retail accommodation on the ground floor.
VAT is applicable to this lot.
Six Week Completion
The EPC will be available to view online in the solicitor’s legal pack.
| Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Review | |
|---|---|---|---|---|---|---|---|
| Ground | Retail | 175.6 sq m |
(1,890 sq ft) |
SPECSAVERS OPTICAL SUPERSTORES LIMITED (1) |
15 years from 28/10/2008 until 27/10/2023 on a full repairing and insuring lease |
£20,000 (2) | 28/10/2018 |
| Total |
175.6 sq m |
(1,890 sq ft) |
£20,000 (2) | ||||
(1) For the year ending 28th February 2017, Specsavers Optical Superstores Limited reported a turnover of £716,509,000, a pre-tax profit of £32,772,000 and a total net worth of £54,000,000 (Source: Experian Group 13/4/2018).
(2) Under the terms of the lease, the current rent reserved is £10,000 per annum exclusive (p.a.x.), up to and including 27/08/2018. From 28/08/2018 the rent increases to £20,000 per annum exclusive (p.a.x.). The seller will pay the buyer the difference between £10,000 p.a.x. and £20,000 p.a.x. from completion of sale until the 28th August 2018. Therefore the property will produce £20,000 p.a.x. from completion of the sale.
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