Occupiers include WH Smith, Cancer Research and Scottish Enterprise & Skills Development Scotland
Neighbouring Retail Occupiers Include Subway, Boots and Original Factory Shop
Total Approximate Floor Area of 1,930.07 sq m (20,768 sq ft)
Lot 27
Auction 13th December 2023
Rent £90,030 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
49 miles south-west of Ayr, 66 miles south-west of Dumfries
Roads
A77, A75
Rail
Stranraer Railway Station
Air
Glasgow International Airport
Situation
The parade of properties is situated in a prominent position on South Strand Street and southern side of George Street facing onto Castle Square. Nearby occupiers include Superdrug, Subway, Boots and Original Factory Shop.
Tenure
Heritable. (Scottish Equivalent of English Freehold).
Location
Miles
49 miles south-west of Ayr, 66 miles south-west of Dumfries
Roads
A77, A75
Rail
Stranraer Railway Station
Air
Glasgow International Airport
Situation
The parade of properties is situated in a prominent position on South Strand Street and southern side of George Street facing onto Castle Square. Nearby occupiers include Superdrug, Subway, Boots and Original Factory Shop.
Tenure
Heritable. (Scottish Equivalent of English Freehold).
Description
The parade in its current configuration, comprises 6 retail shop units, each with sales floors at ground floor and ancillary and staff accommodation at first floor. The former M&Co unit benefits from a lift accessing the first floor. The total approximate floor area is 1,930.07 sq m (20,768 sq ft).
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The parade in its current configuration, comprises 6 retail shop units, each with sales floors at ground floor and ancillary and staff accommodation at first floor. The former M&Co unit benefits from a lift accessing the first floor. The total approximate floor area is 1,930.07 sq m (20,768 sq ft).
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Address
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
21 George Street
Ground First
Retail Ancillary
421.85 156.96
(4,540) (1,689)
WH SMITH RETAIL HOLDINGS LTD t/a WHSmith (3)
5 years from 16/01/2021 (1)
£32,500
23-29 George Street
Ground First
Retail Ancillary
438.76 320.97
(4,722) (3,454)
VACANT POSSESSION
31 George Street
Ground First
Retail Ancillary
118.07 57.88
(1,270) (623)
CLARK CONTRACTS LIMITED
18 months from 23/11/2023
£16,800
3 South Strand Street
Ground First
Retail Ancillary
89.83 36.77
(966) (395)
INDIVIDUALS t/a WC Laundry and Supplies
5 years from 01/03/2022
£6,480
5 South Strand Street
Ground First
Retail Ancillary
87.93 30.40
(946) (327)
CANCER RESEARCH UK
1 year from 24/11/2023(2)
£14,250
7 South Strand Street
Ground First
Retail Ancillary
121.07 49.58
(1,303) (533)
SKILLS DEVELOPMENT SCOTLAND
21 years from 15/06/2005 (4)
£20,000
Total
1,930.07
(20,768)
£90,030
(1) The lease to WH Smith Retail Holdings Ltd t/a WHSmith there are further tenant break options on 15/2/24 and 15/2/25 on 4 months notice. Please see the legal pack for further information. (2) The lease to Cancer Research UK is on Tacit Relocation at the passing rent until 23/11/24. Please see the legal pack for further information (3)For the year ending 31/08/2022 WHSmith Retail Holdings reported a Turnover of £191,656,000 (NorthRow 24/11/2023). (4) The lease provides for a tenant option to determine the lease on 15/06/2024.
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.
