Heritable Shopping Centre Ground Rent Investment
Heritable Shopping Centre Ground Rent Investment
Elgin is the principal town and administrative centre of Moray, benefiting from a large catchment area and a significant tourist draw due to the popular whisky distilleries located nearby. The ground rent area comprises the ground beneath the St Giles Shopping Centre (please see the Legal Pack for the title extent detail). The St Giles Shopping Centre is the main retail hub in Elgin town centre with its main entrance from the pedestrianised High Street. Occupiers in the centre include Superdrug, Waterstones and WH Smith together with The Works and Ramsdens.
Heritable. Scottish Equivalent of English Freehold
Elgin is the principal town and administrative centre of Moray, benefiting from a large catchment area and a significant tourist draw due to the popular whisky distilleries located nearby. The ground rent area comprises the ground beneath the St Giles Shopping Centre (please see the Legal Pack for the title extent detail). The St Giles Shopping Centre is the main retail hub in Elgin town centre with its main entrance from the pedestrianised High Street. Occupiers in the centre include Superdrug, Waterstones and WH Smith together with The Works and Ramsdens.
Heritable. Scottish Equivalent of English Freehold
The site comprises 0.80 Ha/ 1.95 acres and extends from close to the A96 to the north and the High Street to the south.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
The site comprises 0.80 Ha/ 1.95 acres and extends from close to the A96 to the north and the High Street to the south.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
| Site | Site Area | Tenant | Term | Rent p.a.x. | Review/ (Reversion) |
|---|---|---|---|---|---|
| St. Giles Shopping Centre | 0.80 Ha/ 1.95 Acres | ST GILES SHOPPING CENTRE HOLDINGS LIMITED | 125 years from 28 March 2014 to 27 March 2139 | £217,800 |
28 March 2019 and 5 yearly thereafter (1) |
| TOTAL | £217,800 |
(1) Rent reviews are geared to the greater of the passing rent or 24.2% of the market rent. The rent review on 28 March 2019 was not actioned by the vendor and the next rent review is due on 28 March 2024.
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.
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