Includes tenants trading as Domino’s, Co-op Portlethen Funeralcare & Barnardo’s
Comprises three adjoining retail units
Totalling approx 273.20 sq m (2,941 sq ft)
Part of a modern retail development anchored by a Co-op supermarket
Lot 76
Auction 11th July 2018
Rent £68,000 per Annum Exclusive
Status Sold Prior
Price
Sector Retail Warehouse
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
7 miles south of Aberdeen
58 miles north-east of Dundee
Roads
A90
Rail
Portlethen Railway Station
Aberdeen Railway Station
Air
Aberdeen Airport
Situation
Portlethen is a popular commuter town located 7 miles south of Aberdeen. The town is located on the A90, an arterial route between Aberdeen to the north and Dundee to the south. The property is situated in a prominent corner position on the north side of Hillside Road and forms part of a larger retail development with car parking, anchored by a Co-op supermarket. The development serves as the main shopping provision for the local residential area.
Tenure
Heritable. (Scottish equivalent of English Freehold).
Location
Miles
7 miles south of Aberdeen
58 miles north-east of Dundee
Roads
A90
Rail
Portlethen Railway Station
Aberdeen Railway Station
Air
Aberdeen Airport
Situation
Portlethen is a popular commuter town located 7 miles south of Aberdeen. The town is located on the A90, an arterial route between Aberdeen to the north and Dundee to the south. The property is situated in a prominent corner position on the north side of Hillside Road and forms part of a larger retail development with car parking, anchored by a Co-op supermarket. The development serves as the main shopping provision for the local residential area.
Tenure
Heritable. (Scottish equivalent of English Freehold).
Description
The property comprises three adjoining, modern retail units that form part of a larger retail development with car parking.
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 three adjoining, modern retail units that form part of a larger retail development with car parking.
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.
(1) For the year ending 25th December 2016, DP Realty Limited reported a turnover of £22,479,000, pre-tax profits of £2,133,000 and a total net worth of £3,355,000 (Source: Experian Group 18/06/2018). (2) The tenant has the option to extend the lease for an additional 20 years. The lease provides for a tenant option to determine on 13th June 2027. (3) The Co-operative Funeralcare is a trading name of Funeral Services Limited (Part of The Co-op Group) and is the leading funeral directors in the United Kingdom. Funeral Services Limited (30808) is a registered society under the Co-op and Community Benefit Societies Act 2014. (4) The tenant has the option to extend the lease for an additional 10 years. The lease provides for a tenant option to determine on 5th May 2022. (5) Barnardo’s is the UK’s largest children’s charity with over 600 branches nationwide (www.barnardos.org.uk). (6) The lease provides for a tenant option to determine on 26th August 2021.
