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Special Terms of Sale

  • Buyers Fee (?) 2% of Sale Price (Minimum of £2500 +vat)

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Description

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

INCOME PRODUCING INVESTMENT*** Blue chip tenant*** Full Building Let to Superdrug Store on a FRI lease at £25,000 pa until at least Oct 2028. PROMINENT POSITION Prime Town Centre Location.

The property has been calculated to extend to the following internal area; Ground: 243.03sqm (2,616sq ft) 1st: 139.5sqm (1,502sq ft) Total: 382.53sqm (4,118sq ft)

The property is let to Superdrug Stores plc, on FRI terms, from 6th October 2023 (extended) until 6th October 2028 (including a tenant break option in October 2026) at a rental of £25,000 per annum.

The property is fitted out to a high standard by the tenant with large retailing space at ground floor with stores, office, staff welfare and w.c. facilities at 1st floor.

The property is set in a prominent town centre locationn. Occupiers in the vicinity include WH Smith, Specsavers, Santander, Subway and VPZ

INCOME PRODUCING INVESTMENT*** Blue chip tenant*** Full Building Let to Superdrug Store on a FRI lease at £25,000 pa. PROMINENT POSITION Prime Town Centre Location. The property has been calculated to extend to the following internal area; Ground: 243.03sqm (2,616sq ft) 1st: 139.5sqm (1,502sq ft) Total: 382.53sqm (4,118sq ft) The property is let to Superdrug Stores plc, on FRI terms, from 6th October 2023 (extended) until 6th October 2028 (including a tenant break option in October 2026) at a rental of £25,000 per annum. The property is fitted out to a high standard by the tenant with large retailing space at ground floor with stores, office, staff welfare and w.c. facilities at 1st floor. The property is set in a prominent town centre locationn. Occupiers in the vicinity include WH Smith, Specsavers, Santander, Subway and VPZ

The property is situated on the south side of George Street, at its junction with South Strand Street within the town of Stranraer. George Street is the primary retailing street within Stranraer Town Centre, with the subject property occupying a prominent position on its south side between its junctions with Queen Street and South Strand Street and set amongst an array of national and local occupiers including WH Smith, Santander, Subway, VPZ and Superdrug, amongst others. Stranraer is located within the Dumfries and Galloway region, around 45 miles south of Ayr, 90 miles south west of Glasgow and 73 miles west of Dumfries, lying at the convergence of the A77 and A75 road routes. The town has a population of around 11,000 persons rising to around 35,000 persons within a 10- mile radius, increasing significantly during the tourist season.

Full Address: 12-20 George Street, Unit 1, Superdrug, Stranraer, DG9 7RL

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: Oct 2028
Rent: £25,000 per year / £2,083 per month
Yield: 14% (approx)
Tenant: Company
Notes: The property is let to Superdrug Stores plc, on FRI terms, from 6th October 2023 (extended) until 6th October 2028 (including a tenant break option in October 2026) at a rental of £25,000 per annum.

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Pricing Information & Bidding

Opening Bid: £182,000

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SPECIAL Terms of Sale

  • 10% Deposit
  • Buyers Fee = 2% of Sale Price (Minimum £2,500 + vat)
  • 4 Weeks Completion or Longer By Agreement
  • Contribution to Sellers Costs £2,750 for on time settlement

VIEW THE GENERAL TERMS OF SALE which are superseded by any special conditions detailed above.

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Auction Details

Date & Time: 27 February 2025, 10am-3pm
Type: Timed Online Auction

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