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Lot 22

19-33 Batchen St and 69-71 South Street, Elgin, IV30 1BH

Guide Price: £695,000

Tenanted Freehold Commercial Offer Now Available


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Key Features:

PORTFOLIO of 9 x Tenanted Retail Units. Total current rental of £81,040. TOWN CENTRE retail parade in the thriving and affluent market town of Elgin. EXCELLENT TRADING POSITIONS. ** HIGH YIELD **


  • Subjects comprise of 9 OCCUPIED FREEHOLD TOWN CENTRE RETAIL UNITS. Strong mix of retail, food and leisure occupants with majority of leases offering either fixed uplifts and/or RPI increases.
  • MAJOR RETAILERS IN THE VICINITY include TK MAXX, Poundstretcher, Ladbrokes, GAME, Toymaster and Poundland. Excellent trading positions with the town's largest car park (226 spaces) is located within walking distance.
  • All properties leased on FRI leases with upward only rent reviews. ALL PAYMENTS UP TO DATE with excellent payment histories. Current rent totals £81,040 per annum. With realistic potential for over £90,000 per annum
  • The thriving town of Elgin is the administrative and commercial capital of the Moray district with a population of circa 25,000 and approximately 100,000 within a 15 mile radius. Super location in busy town centre within 1 hour of Aberdeen and Inverness.


Ownership

Freehold

- Outright ownership of the property and land on which it stands.
Occupation

Tenanted

- Existing tenant in place with lease agreement to be assigned to the new purchaser at the time of completion.
Rateable Value

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- Click the above link to search the latest records for this postcode.

Tenancy Details:


Type of Agreement Full Repairing & Insuring (FRI)
Length Various
Rent £81,040 per year / £6,753 per month
Yield 11.7% (at guide price)
Tenant Company
Notes: All properties leased on FRI leases with upward only rent reviews. ALL PAYMENTS UP TO DATE with excellent payment histories. Current rent totals £81,040 per annum. With realistic potential for over £90,000 per annum

Enhanced Buying Terms:


Lower Deposit 5%
- Standard Deposit is 10% of the sale price.
Longer Completion 8 Weeks
- Standard completion is 4 weeks from the auction date.



Full Details:

**HIGH YIELD RETAIL INVESTMENT OPPORTUNITY** Multi-let, TOWN CENTRE retail parade in the thriving and affluent market town of Elgin. EXCELLENT TRADING POSITIONS. Subjects comprise of 9 OCCUPIED FREEHOLD TOWN CENTRE RETAIL UNITS. Strong mix of retail, food and leisure occupants with majority of leases offering either fixed uplifts and/or RPI increases. MAJOR RETAILERS IN THE VICINITY include TK MAXX, Poundstretcher, Ladbrokes, GAME, Toymaster and Poundland. Excellent trading positions with the town's largest car park (226 spaces) is located within walking distance. All properties leased on FRI leases with upward only rent reviews. ALL PAYMENTS UP TO DATE with excellent payment histories. Current rent totals £81,040 per annum. With realistic potential for over £90,000 per annum

Guide Price: £695,000 - Offer Now


What is a Guide Price...

Auction Guide Prices are displayed as an indication of each seller's approximate sale expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Unless specified all properties are subject to a Reserve (minimum acceptable price) which we expect will be set no more than 10% above or below the advertised guide.

Offer Now Explained...

You may submit an offer now on this property for the owner to consider. If they are will are willing to sell you the property now then it is a matter of making the required deposit payment to secure the purchase. Complete our ONLINE OFFER FORM now to put your offer forward to the sellers.

Map & Location:


The thriving town of Elgin is the administrative and commercial capital of the Moray district with a population of circa 25,000 and approximately 100,000 within a 15 mile radius. Super location in busy town centre within 1 hour of Aberdeen and Inverness.

Viewings:


IMPORTANT NOTICE...


Due to Government advice on COVID-19 no viewings are currently possible. We advise all interested parties to follow social distancing rules for safety.

Plans:

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Auction Details:



  • Auction Date...

    30 April 2020, 9am-5pm


  • Auction Location...

  • Edinburgh Online

  • Online Bidding Only




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