Heritable Retail Investment
Heritable Retail Investment
The property is located on the south side of the pedestrianised High Street in close proximity to the main entrance to the Howgate Shopping Centre. Retailers nearby include Boots, Noble Amusements, Savers Holland & Barrett, Vodafone and Waterstones.
Heritable. Scottish Equivalent of English Freehold
The property is located on the south side of the pedestrianised High Street in close proximity to the main entrance to the Howgate Shopping Centre. Retailers nearby include Boots, Noble Amusements, Savers Holland & Barrett, Vodafone and Waterstones.
Heritable. Scottish Equivalent of English Freehold
The retail unit is arranged over ground, first, basement and mid-basement levels. The sales accommodation on the ground floor is open plan and L-shaped linking with the Howgate Shopping Centre. The basement and mid-basement areas provide substantial additional storage space for stock and incoming goods are delivered to this area via a loading bay. The first floor also provides additional basic storage space.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
The retail unit is arranged over ground, first, basement and mid-basement levels. The sales accommodation on the ground floor is open plan and L-shaped linking with the Howgate Shopping Centre. The basement and mid-basement areas provide substantial additional storage space for stock and incoming goods are delivered to this area via a loading bay. The first floor also provides additional basic storage space.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
| Floor | Use | Floor Areas (Approx sq m) | Floor Areas (Approx sq ft) | Tenant | Term | Rent p.a.x. | Reversion |
|---|---|---|---|---|---|---|---|
| Ground floor First floor Basement Basement (mezzanine) |
Retail Ancillary Ancillary Ancillary |
1,458.60 sq m 1,109.80 sq m 488.00 sq m 131.10 sq m |
(15,700 sq ft) (11,946 sq ft) (5,253 sq ft) (1,411 sq ft) |
WILKO LIMITED t/a Wilko (1) | 15 years from 11 April 2011 to 10 April 2026 | £185,000 |
10/04/2026 |
| TOTAL | 3,187.50 sq m |
(34,310 sq ft) |
£185,000 |
(1) Wilko began in business more than 90 years . With the first store opening in Leicester back in 1930, there are now over 400 stores in the UK. ( www.wilko.com) For the year to 29/01/2022, Wilko Limited reported a turnover of £1,241,242,000, pre tax profit of negative £38,707,000 and a Total Shareholders Equity of £99,499,000 (NorthRow 26/04/2023).
(2)The rent review is based on the overall unit i.e. taking account of the whole or conjoined unit. The rent review clause confirms the following: “The rent shall be revised at each review date to 88% of the market rent as would reasonably be expected to become payable in respect of the conjoined premise...” The conjoined premises being this property and the adjoining mall unit within the Howgate Shopping Centre.
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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