Tesco Express, 43-45 Union Street Aberdeen AB11 5BN

Tesco Express, 43-45 Union Street
Aberdeen
AB11 5BN

Heritable Supermarket Investment

Prime location on Union Street opposite the Marischal Square office development
New 20 year lease to Tesco Stores Limited (subject to an option)
Neighbouring occupiers include Greggs, Semichem, Poundland, Miller and Carter and Brewdog
The rent is reviewed to open market with a cap of 2.5% p.a. compounded annually to a maximum of 13.14% over five years
Currently producing £79,000 p.a.x.

Lot
16
Auction
11th February 2021
Rent
£79,000 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
Live Streamed Auction

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Heritable Supermarket Investment

Prime location on Union Street opposite the Marischal Square office development
New 20 year lease to Tesco Stores Limited (subject to an option)
Neighbouring occupiers include Greggs, Semichem, Poundland, Miller and Carter and Brewdog
The rent is reviewed to open market with a cap of 2.5% p.a. compounded annually to a maximum of 13.14% over five years
Currently producing £79,000 p.a.x.

Lot 16
Auction 11th February 2021
Rent £79,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 67 miles north-east of Dundee
Roads: A90, A96
Rail: Aberdeen Railway Station; (Mainline and Scotrail)
Air: Aberdeen Airport

Situation

Aberdeen is the third largest city in Scotland, known globally as an oil and gas centre and energy research hub. The property is situated on the south side of the Union Street at its eastern end, between the St Nicholas Centre and Broad Street linking to the Marischal Square office development. Union Street is the principal retail thoroughfare in Aberdeen city centre. Neighbouring occupiers include Greggs, Ladbrokes, Poundland, Miller & Carter and Semichem.

Tenure

Heritable.

Location

Miles: 67 miles north-east of Dundee
Roads: A90, A96
Rail: Aberdeen Railway Station; (Mainline and Scotrail)
Air: Aberdeen Airport

Situation

Tenure

Heritable.

Description

The property will comprise a newly fitted out Tesco Express supermarket arranged over ground and basement floors within a C listed granite tenement building (the upper floors are in separate ownership). Retail sales accommodation will be provided at ground floor level together with storage and plant at basement level. The property is currently being fitted out by the tenant.

VAT

VAT is applicable to this lot.

Viewings

Please contact Mhairi Archibald (07718899341)

EPC

Band E. Please see the legal pack for further information.

Description

VAT

VAT is applicable to this lot.

Viewings

Please contact Mhairi Archibald (07718899341)

EPC

Band E. Please see the legal pack for further information.

Tenancy & Accommodation

Floor	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
Ground Basement	294.90 sq m 309.90 sq m	(3,174 sq ft) (3,336 sq ft)	TESCO STORES PLC (1)	20 years from 07/09/2020 to 06/09/2040 (2)	£79,000	07/09/2025 and five yearly thereafter (3)
Total	604.80 sq m	(6,510 sq ft)			£79,000

(1) Tesco Stores PLC have a turnover of £42,951,000,000, a pre-tax profit of £1,151,000,000 and total assets of £24,329,000,000. Tesco trade from over 3,700 stores in the UK and Ireland (Source tesco.com)
(2) There is a tenant break option at year 10 (07/09 2030) on giving 6 months notic3
(3) The rent is reviewed to open market with a cap of 2.5% p.a. compound (maximum 13.14% over 5 years)

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.