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Description
- Status: Available
- Type: Commercial
- Ownership: Freehold
- Occupation: Tenanted
1,538sq ft Ground Floor Bairds Pharmacy (formerly Lloyds) sold with F.R.I Lease Expiry: 12th May 2034 and Passing Rent: £16,000p.a. Rent Review: May 2028 - Prominent Frontage, Town Centre Location.
Neighbouring occupiers include H.Samuel, St Giles Shopping Centre, St Giles Church, Holland and Barrett, Boots. The property has been renovated by the tenant in keeping with their corporate specs.
The property has been measured on a net internal area basis and calculated to extend to the following floor areas;
Ground: 142.9sqm (1,538sq ft)
Tenant: LP North Eight Limited (trading as Bairds Pharmacy, formerly Lloyds)
Start Date: 13th May 2013
Expiry: 12th May 2034
Tenant Break: 13th May 2027
Option To Extend: For a further 7yrs
The property has been renovated by the tenant in keeping with their corporate specifications with L.E.D lighting within the suspended ceiling, commercial linoleum flooring and walls plastered.
The property forms the ground floor of a larger 3 storey traditional sandstone development surmounted by a pitched roof. The property offers a larger multi window display frontage with single access door. Internally the property is presented in an open plan layout with partitions erected to form private consultation room, w.c. facilities, staff room, and secure store.
The property has been renovated by the tenant in keeping with their corporate specifications with L.E.D lighting within the suspended ceiling, commercial linoleum flooring and walls plastered and painted.
The property has been measured on a net internal area basis and calculated to extend to the following floor areas;
Ground: 142.9sqm (1,538sq ft)
NAV/RV
The property has been assessed and entered onto the valuation roll with the following NAV/RV;
£12,250
The property is held on a full repairing and insuring head lease on the following terms;
Tenant: LP North Eight Limited (trading as Bairds Pharmacy, formerly Lloyds)
Start Date: 13th May 2013
Expiry: 12th May 2034
Tenant Break: 13th May 2027
Option To Extend: For a further 7yrs providing 12 months notice
Rent: £16,000per annum
Rent Review: 5th anniversary
The property is situated on the north side of High Street within the town of Elgin. Elgin, the administrative and commercial centre of Moray district, is an affluent market town with a resident population of some 21,000 and a primary catchment of approximately 90,000 within a 10 mile radius.
Located on the Moray Firth, approximately 40 miles east of Inverness and 65 miles north west of Aberdeen, the town benefits from good road (A96) and rail communications connecting to the respective national networks. Neighbouring occupiers include H.Samuel, St Giles Shopping Centre, St Giles Church, Holland and Barrett, Boots
Full Address: 175-177 High Street, Elgin, IV30 1DW
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Tenancy Details
Type of Agreement: Full Repairing & Insuring (FRI)
Length: Expiry: 12th May 2034
Rent: £16,000 per year / £1,333 per month
Yield: 13% (approx)
Tenant: Company
Notes: Tenant: LP North Eight Limited (trading as Bairds Pharmacy, formerly Lloyds)
Start Date: 13th May 2013
Expiry: 12th May 2034
Tenant Break: 13th May 2027
Option To Extend: For a further 7yrs providing 12 months notice
Rent: £16,000per annum
Rent Review: 5th anniversary
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Auction Details
Date & Time: 16 May 2024, 10am-3pm
Type: Timed Online Auction
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