144-148 High Street, Elgin IV30 1BD
- Investment opportunity
- Ground floor retail
- Lease to William Hill
- Extends to 132 M² (1,418 FT²)
- Current rent: £38,000 PA
- EPC Rating: TBC
Sold at auction on 19 October 2021 at The Shepherd Commercial Auction will be conducted behind closed doors and broadcast live online with remote bidding only. for £165,000.
On behalf of Shepherd Commercial - Inverness
Ground floor retail unit currently let to William Hill at £38,000 per annum
The property comprises a ground floor retail unit forming part of a wider 2-storey traditional stone and slate terraced building. The unit benefits from a large glazed double frontage with a recessed centrally positioned glazed pedestrian door. Internally the property is currently fitted out as a William Hill betting shop and provides open plan sales space with staff welfare facilities to the rear. Suspended ceilings are fitted throughout incorporating spot lighting and ceiling mounted air conditioning cassettes.
Location Elgin is the administrative and regional commercial centre for Moray. It houses the HQ offices of Moray Council. It is an affluent market town with a resident population of approximately 23,128 (2011 Census) and a primary catchment area of over 90,000 within a 10 mile radius. The town is located on the Moray Firth, approximately 40 miles east of Inverness and 65 miles north west of Aberdeen via the main A96 trunk road linking the two cities and also benefits from regular bus and rail communications connecting to the respective national networks.
The town lies in the heart of the world famous Speyside Whisky country and together with ready access to the Cairngorm National Park and Malt Whisky Trail ensures Elgin is a popular tourist destination. RAF Lossiemouth, one of the RAF’s largest bases, is also located nearby and contributes significantly to the local economy.
The property occupies a prominent retail location in Elgin town centre at the west end of the main High Street close to its junction with both North Street and BatchenStreet. The High Street is Elgin’s principal retail thoroughfare.
Neighbouring occupiers include a healthy mix of local and national retailers including AshersBakery, Hays Travel, Lloyds Pharmacy, Duncan & Todd, Boots Opticians, British Heart Foundation and Poundland.
Floor Area The shop extends to an approximate floor area of 132m² (1,418 ft²).
Planning The property currently benefits from Class 1 (Shops) Consent. Other uses such as a café or restaurant may be suitable, subject to planning.
Lease Details The property is let to William Hill Organization Limited until 31stAugust 2028 on FRI lease terms at a current rental of £38,000 per annum. The tenant is not in occupation but continue to meet their lease obligations. There is a tenant only break option as at 1stSeptember 2023. The unexpired lease term to the break date is circa 1.87 years.
Covenant William Hill Organisation Limited (Company No. 00278208) reported for the year ending 29 December 2020 net revenue of £1.3bn and an operating profit after tax of £51.0m. The company is a subsidiary of William Hill PLC. Founded in 1934, William Hill is one of the worlds’ leading betting and gaming companies. Employing more than 16,000 people in nine countries, it is the UK’s largest land-based bookmaker with 1,400+ licensed betting shops in the UK.
Note The buyers fee is 2.4% including VAT subject to a minimum of £3,474 including VAT
Tenure: See Legal Pack
EPC Rating: Tbc
To book a viewing, please contact Shepherd Commercial Property Auctions to arrange.
This auction is for property located in Scotland; therefore, any sale will be governed by applicable Scottish law.
This property is being sold by Shepherd Commercial Property Auctions, facilitated by SDL Property Auctions as auctioneer.
The auction for this property will take place as an "Auction Event" behind closed doors with a live auctioneer and will be streamed online in real-time. The property will be sold alongside several other lots. Bids must be placed remotely- the bidding registration process is detailed below. The auction can be watched in real-time on the auction date through SDL Property Auctions' website on their home page.
The auction date applicable for the property is displayed under the property details section of this page. It is not possible to provide a precise timeslot when this property will be auctioned on the day, because there are other lots being sold.
You are required to undertake identity checks before you can be authorised to bid. You must also provide your payment details. If you do not provide this information, your registration will not be processed.
When you place your bid, you are deemed to have agreed to the Shepherd Buyers Terms (Scotland) which are available to view on SDL Property Auctions' website.
Auction Type - Unconditional Sale
If you are the highest bidder, you must exchange legally binding contracts for the sale when the auction for the property comes to an end. You must then pay the applicable fees and deposit. You must complete the sale within 20 business days unless the Special Conditions of Sale contained within the legal pack state otherwise.
The following non-refundable fees apply:
Buyer's Fee- payable on exchange of contracts. This is listed within the property details.
The Buyer's Fee does not contribute to the purchase price.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the legal pack. You must read the Special Conditions carefully before bidding. Any additional fees are included at the seller's discretion and will be in addition to any standard fees payable. The auctioneer has limited control over the content of the Special Conditions of Sale.
On exchange of contracts, you must pay a non-refundable deposit equal to 10% of the actual purchase price of the property, subject to a minimum of £5,000. The deposit contributes towards the purchase price.
Applicable fees must be paid immediately after a winning bid has been placed. Payment by cash or cheque will not be accepted. Prior to the auction, you will receive an email from the auctioneer to register your card details with third-party provider, Stripe. Your card details will be stored on their secure online payment platform. Payment will only be taken from you in the event of a winning bid. In this case, you will be contacted by a representative of the auctioneer to make payment. If you cannot be contacted within 24 hours after the auction ends, the auctioneer reserves the right to charge your card.
Before bidding, you must view the legal pack for the property. This is the collection of legal documents that apply to the sale. The documents will include but are not limited to: Special Conditions of Sale, title documents from the Land Registry and Energy Performance Certificate.
The legal pack can be viewed via SDL Property Auctions website by searching for the property. Once on the property details page, find the Lot Information section, where there is a sub-heading "Legal pack". Follow this link, and you will then be directed to create an account with Auction Passport to view the documents.
The legal pack can change at any time up until the auction starts so you must check for the most recent version of the legal pack. An addendum may be issued outlining any late changes. At the point of placing your bid, you are deemed to have read the legal pack in its entirety, including any changes. Failure to check for changes to the legal pack will not be a valid reason for withdrawing from the sale.
It is strongly recommended that you instruct a qualified professional to review the legal pack and raise any necessary enquiries before bidding.
Articles of Roup
The Articles of Roup are the general terms of sale for properties sold at auction in Scotland that will govern this transaction. They are available to view on SDL Property Auctions website.
The Auction Conditions listed on the auctioneer's website do not apply to properties sold under any of the Scottish sale methods.
Special Conditions of Sale
The property is sold subject to any Special Conditions of Sale. These are contractual conditions that are included by the seller of the property - they are not part of the standard Shepherd Buyers Terms (Scotland). The Special Conditions of Sale are legally binding. You are taken to have read and accepted these at the point of bidding, even if you have not done so. The Special Conditions of Sale are available to read in the legal pack.
To register to bid on the property, visit the SDL Property Auctions website and submit your remote bid. The lot number can be found against the Lot Details of the property. Prospective bidders must register no later than 12pm the day before the auction date. If you register after the cut-off, it cannot be guaranteed that your registration will be processed.
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price, is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
Brochures144-148 High Street, Elgin - AUCTION Brochure T202110091205.pdf
144-148 High Street, Elgin IV30 1BD
NEAREST STATIONSDistances are straight line measurements from the centre of the postcode
- Elgin Station0.4 miles
About the agent
SDL Property Auctions is the UK’s most successful live streamed auctioneer, selling hundreds of lots every month in our National Property Auctions and daily Timed Auctions.
At SDL Property Auctions we pride ourselves on being national auctioneers with a personal service, delighting our customers with great results every single month.
We sell a wide range of residential and commercial properties for both private individuals and corporate clients ranging from investment properties,
Disclaimer - Property reference 32015. 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 SDL Property Auctions, Nationwide. 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.
Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call SDL Property Auctions, Nationwide on 03452 220197.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a Guide Price or a range of Guide Prices. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a Reserve Price below which the property cannot be sold at auction. Normally the Reserve Price will be set within the range of Guide Prices or no more than 10% above a single Guide Price.
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