Co-op, Kinmundy Road Peterhead Aberdeenshire AB42 2AE

  • Co-op, Kinmundy Road<br>Peterhead<br>Aberdeenshire<br>AB42 2AE

Co-op, Kinmundy Road
Peterhead
Aberdeenshire
AB42 2AE

Heritable Index-Linked Supermarket Investment

  • Modern standalone foodstore let to Co-operative Group Food Limited until July 2029
  • 5 yearly rental increases in line with RPI (minimum 1% maximum 4%)
  • Prominent roadside position with generous car parking to the front of the property
  • Neighbourhood foodstore located in established residential area
  • Lot
    65
  • Auction
    24th May 2018
  • Rent
    £40,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £586,000
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
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Heritable Index-Linked Supermarket Investment

  • Modern standalone foodstore let to Co-operative Group Food Limited until July 2029
  • 5 yearly rental increases in line with RPI (minimum 1% maximum 4%)
  • Prominent roadside position with generous car parking to the front of the property
  • Neighbourhood foodstore located in established residential area
  • Lot 65
  • Auction 24th May 2018
  • Rent £40,000 per Annum Exclusive
  • Status Sold
  • Price £586,000
  • Sector
    Supermarket/Convenience
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
30 miles north-east of Aberdeen
Roads
A950, A90
Rail
Aberdeen Railway Station (30 miles south)
Air
Aberdeen International Airport
Situation

Peterhead is a busy fishing port located 30 miles north-east of Aberdeen. Kinmundy Road is approximately 1.5 miles west of the town centre and the harbour area. The immediate area is an extensive and well established and affluent residential area. The road links to the A90 half a
mile to the west.

Tenure

Heritable. (Scottish equivalent of an English Freehold).

Location
Miles
30 miles north-east of Aberdeen
Roads
A950, A90
Rail
Aberdeen Railway Station (30 miles south)
Air
Aberdeen International Airport
Situation

Peterhead is a busy fishing port located 30 miles north-east of Aberdeen. Kinmundy Road is approximately 1.5 miles west of the town centre and the harbour area. The immediate area is an extensive and well established and affluent residential area. The road links to the A90 half a
mile to the west.

Tenure

Heritable. (Scottish equivalent of an English Freehold).

Description

The property comprises a modern purpose built foodstore with car parking for 16 cars. There is loading to the rear of the property.

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 modern purpose built foodstore with car parking for 16 cars. There is loading to the rear of the property.

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 Retail
278.70 sq m
(3,000 sq ft)
 CO-OPERATIVE
GROUP FOOD
LIMITED (1)		 15 years from
14/07/2014 until
13/07/2029 on a full
repairing and insuring
lease		 £40,000 014/07/2019
14/07/2024
(2)
Total
278.70 sq m
(3,000 sq ft)
     £40,000  

(1) The Co-operative is the UK’s fifth largest food retailer, with over 2,500 stores (www.co-operative.coop). For the year ending 2nd January 2016, Co-operative Group Food Limited reported a turnover of £6,475,500,000, pre-tax profits of -£429,600,000 and a total net worth of £1,385,500,000 (Source: Experian Group 30/04/2018).
(2) The rent reviews are five yearly and linked to the Retail Price Index (RPI), to a minimum of 1% per annum and a maximum of 4% per annum compounded.

Contacts

Acuitus
Mhairi ArchibaldMhairi Archibald +44 (0)7718 899 341 Mhairi.archibald@acuitus.co.uk
Seller's Solicitors
Davidson Chalmers LLP 12 Hope Street
Edinburgh
EH2 4DB
James Warnock 0131 625 9191james.warnock@davidsonchalmers.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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