Vision Express, 118-120 High Street Falkirk FK1 1NW

Vision Express, 118-120 High Street
Falkirk
FK1 1NW

Heritable Retail Investment

Let to Falkirk V.E. Limited with a guarantee from Vision Express (UK) Limited
Lease expires August 2029 (subject to option)
Rent re-based in 2021 from £62,500
Opposite Howgate Shopping Centre
Nearby occupiers include Asda, Greggs, Boots the Chemist, Superdrug, Holland & Barrett, JD Sports, River Island and JD Wetherspoon

Lot
53
Auction
21st September 2023
Rent
£32,500 per Annum Exclusive
Status
Sold
Price
£305,000
Auction Venue
Live Streamed Auction

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Heritable Retail Investment

Let to Falkirk V.E. Limited with a guarantee from Vision Express (UK) Limited
Lease expires August 2029 (subject to option)
Rent re-based in 2021 from £62,500
Opposite Howgate Shopping Centre
Nearby occupiers include Asda, Greggs, Boots the Chemist, Superdrug, Holland & Barrett, JD Sports, River Island and JD Wetherspoon

Lot 53
Auction 21st September 2023
Rent £32,500 per Annum Exclusive
Status Sold
Price £305,000
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 22 miles east of Glasgow, 25 miles west of Edinburgh
Roads: A803, A904, M9 (Junction 6)
Rail: Falkirk Grahamston Station and Falkirk High Station (both direct to Edinburgh in approximately 35 minutes)
Air: Edinburgh Airport

Situation

The property is located on the north side of the pedestrianised High Street opposite the main entrance to Howgate Shopping Centre. Nearby occupiers include Asda, Boots the Chemist, Superdrug, Holland & Barrett, JD Sports, River Island, Greggs and JD Wetherspoon.

Tenure

Heritable. (Scottish equivalent of Freehold).

Location

Miles: 22 miles east of Glasgow, 25 miles west of Edinburgh
Roads: A803, A904, M9 (Junction 6)
Rail: Falkirk Grahamston Station and Falkirk High Station (both direct to Edinburgh in approximately 35 minutes)
Air: Edinburgh Airport

Situation

Tenure

Heritable. (Scottish equivalent of Freehold).

Description

The property comprises an opticians arranged on the ground, basement and first floors. The first floor is used as a laboratory with staff/ancillary accommodation.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

See Legal Pack

Description

The property comprises an opticians arranged on the ground, basement and first floors. The first floor is used as a laboratory with staff/ancillary accommodation.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

See Legal Pack

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.	Rent Review
Ground Basement First	Retail Ancillary Laboratory/Ancillary	141.30 - 130.60	(1,521) (-) (1,406)	FALKIRK V.E. LIMITED (1) with a guarantee from VISION EXPRESS (UK) LIMITED (t/a Vision Express)	Term of years expiring on 24/08/2029 (2)	£32,500	24/08/2025
Total		271.90	(2,927)			£32,500

(1) Vision Express (UK) Limited were established in 1988 and currently trade from over 550 stores (www.visionexpress.com)
(2) The property was originally let for a term of 10 years from 25/08/2011 expiring on 24/08/2021. The lease was then extended for a term expiring on 24/08/2029. The lease is subject to a tenant option to determine on 24/08/2025. A payment of £8,125 as a contribution towards landlord’s remarketing and other expenses is payable by the tenant should they exercise their break.

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.