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Description

  • Status: Available
  • Type: Commercial
  • Ownership: Freehold
  • Occupation: Tenanted

Prime Retail Parade Large Property Held On F.R.I Lease Superdrug Plc Expiry: August 2028 (tenant in situ for 20yrs) Passing Rent: £25,000p.a.x

The property is situated within the prime section of Marischal Street with neighbouring occupiers including W H Smith, Brewdog, Clintons as well as several local retailers.

Prominent corner retail premises arranged over ground, first and basement levels. Internally the subjects are very well fitted in the tenants usual corporate style.

The property has been calculated to extend to the following internal area; Ground: 272.22sqm (2,984sq ft) 1st Floor: 74.32sqm (800sq ft) Basement: 11.71sqm (126sq ft) Total: 363.25sqm (3,910sqFT

Tenant: Superdrug Stores Plc Expiry: 15th August 2028 Tenant Break: 16th August 2026 (6 months notice) Passing Rent: £25,000p.a.x About Superdrug Stores Plc

Prominent corner retail premises arranged over ground, first and basement levels. Internally the subjects are very well fitted in the tenants usual corporate style. The first floor and basement levels provide ideal ancillary and storage space. The property has been calculated to extend to the following internal area; Ground: 272.22sqm (2,984sq ft) 1st Floor: 74.32sqm (800sq ft) Basement: 11.71sqm (126sq ft) Total: 363.25sqm (3,910sq ft) The property is held on a full repairing and insuring head without schedule of condition on the following terms; Tenant: Superdrug Stores Plc Expiry: 15th August 2028 Tenant Break: 16th August 2026 (6 months notice) Passing Rent: £25,000p.a.x About Superdrug Stores Plc Superdrug are part of A.S Watson Group, trading from over 800 stores across the UK and Ireland and are the UK's second largest health and beauty retailer. The retailer is planning a further 25 new stores for 2023 and have been a long-standing tenant of the subject property having originally taken occupation in 2003. The property has been elected for V.A.T. as such the transaction may be treated as a T.O.G.C (transfer of a going concern)

The property is situated within the prime section of Marischal Street with neighbouring occupiers including W H Smith, Brewdog, Clintons as well as several local retailers. Peterhead is situated 32 miles north of Aberdeen with a population of approximately 19,000 persons situated on the A92 that connects with Fraserburgh.

Full Address: 73 Marischal Street, Superdrug Investment, Peterhead, AB24 1PR

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 2028
Rent: £25,000 per year / £2,083 per month
Yield: 12% (approx)
Tenant: Private Individual
Notes: Superdrug are part of A.S Watson Group, trading from over 800 stores across the UK and Ireland and are the UK's second largest health and beauty retailer. The retailer is planning a further 25 new stores for 2023 and have been a long-standing tenant of the subject property having originally taken occupation in 2003.

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Pricing Information & Bidding

Opening Bid: £207,000

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  • Buyers Fee = 3% of Sale Price (Minimum £3,250 + vat)
  • 4 Weeks Completion or Longer By Agreement
  • Contribution to Sellers Costs £2,750 for on time settlement

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Auction Details

Date & Time: 05 December 2024, 10am-3pm
Type: Timed Online Auction

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