Convenience Store for sale

East High Street, Forfar, Angus, DD8

Offers in Region of 2,145 sq. ft. | £275,000

Property Description

Commercial information

  • 2,145 sq ft (199 sq m)

Key features

  • 2145 sq ft
  • Tenanted to Martin McColls PLC
  • 16.5 year Lease
  • Excellent covenant strength

Full description

LOCATION
The property is situated in the popular market town of Forfar located 17 miles north of Dundee and 32 miles south of Aberdeen, accessed from the A90 dual carriageway. The Property is located on East High Street, which is a main arterial route into Forfar town centre, forming part of the retail pitch.

DESCRIPTION
Comprises a two storey building of traditional stone construction under a pitched slate roof. The retail shop is on the ground floor with ancillary accommodation to the first floor.

ACCOMMODATION m2 sq ft
G/F Zone A 60.00 646
G/F Zone B 55.23 594
G/F Zone C 36.90 397
F/F Staff area 47.50 511

m2 sq ft
total 199.63 2,145
plus staff w/c's

PRICE
275,000 for the Scottish Freehold interest.
All offers, to be couched in Scottish Legal Terms.

We are informed that VAT is not applicable to this Sale.

TENANCY
The entire property is let to Martin McColl Limited for a term of 16.5 years on FRI terms from 24 Feb 2016 subject to fixed uplifts at 2% per annum compounded throughout. The first review is in 18 months and thereafter 5 yearly.

Current Rental is 18,000 pa

until:-
24 Aug 2017 the rent increases to 18,544 pa
24 Aug 2022 the rent increases to 20,474 pa
25 Aug 2027 the rent increases to 22,605 pa
(these figures have been calculated independently for illustration purposes only)

COVENANT STRENGTH
McColl's trade nationwide from over 1,300 stores the UK. Approximately three quarters of those being convenience stores and the remainder trading as newsagents. Their brands include McColl's, Martin's and R. S. McColl. For the year ending 30th November 2014 reported a turnover of 462.850 million, a pre tax profit of 27.947 million and shareholder's funds of 117.307 million. Martin McColl Ltd has a Dun & Bradstreet rating of 5A2.

The combined group has a turnover in excess of 1bn. It employs nearly 20,000 full and part-tine staff and is visited by over 4.5 million customers every week. The company floated on the London Stock Exchange in 2014.

SCOTTISH VALUATION ROLL
According to the Scottish Valuation Roll website; this property has a current Valuation roll of
10,500

Interested parties are advised to make their own enquiries in this respect.

VIEWINGS
For further information or to arrange a viewing, please contact Peter Davies on 0113 237 0999.

ENERGY PERFORMANCE CERTIFICATE
Energy Performance Certificates for this property is:-
9100 - 3623 - 4070 - 0100 - 1601
Efficiency Rating E - 61

MISREPRESENTATION ACT 1967
Stoneacre Properties acting as agent for the vendors or lessors of this property give notice that:-

The particulars are set out as a general outline only for the guidance of intending purchasers or lessees, and do not constitute, nor constitute part of, an offer or contract.

All descriptions, dimensions, condition statements, permissions for use & occupation, and other details are given in good faith and are believed to be correct. Any intending purchasers or tenants should not rely them as such as statements or representations of fact but must satisfy themselves by inspection or otherwise as the correctness of each of them.

No person in the employment of Stoneacre Properties has any authority to make or give representation or warranty whatsoever in relation to this property.

All prices and rents are quoted exclusive of VAT unless expressly stated to the contrary.

A director of Stoneacre Properties has a financial interest in this property.

MISDESCRIPTIONS ACT 1991
These details believe to be correct at the time of compilation, but may be subject to subsequent amendment.

ALL OFFERS ARE SUBJECT TO CONTRACT.
Details prepared June 2016

Nearest station

  • Monifieth (11.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Stoneacre Properties, Leeds - Commercial Sales Office

184 Harrogate Road, Chapel Allerton, Leeds, LS7 4NZ

0113 237 0999 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest station

  • Monifieth (11.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Stoneacre Properties, Leeds - Commercial Sales Office

184 Harrogate Road, Chapel Allerton, Leeds, LS7 4NZ

0113 237 0999 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 90EHS. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Stoneacre Properties, Leeds - Commercial Sales Office. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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