Lot 4q

Guide Price: £163,000 - Bid Now

20 East High Street , Forfar, DD8 2EG


Key Features:

PRIME FORFAR COMMERCIAL INVESTMENT let to 'TSB BANK PLC' BEEN IN OCCUPATION SINCE 1999 (19 YEARS) Lease runs till 2019 (recently extended) £16,500 per annum on a full repairing and insuring lease ***Next to SEMI-CHEM, OPTICIANS facing BETFRED, near CAR PARK 'Specsavers' LLYODS PHARMACY, Greggs' Boots.****VAT FREE PROPERTY.***


  • Tenant - LLYODS TSB SCOLAND PLC. Net income £16.6 billion. Operating income £17.5 billion (2016). Rental £16,500 p.a. By the latest deed the term was extended to 24th December 2019 subject to a break date of 25th December 2017 TENANT HAS NOT EXERCISED THE BREAK DATE SHOWING COMMITMENT TO PROPERTY. The rent was increased to £16,500 PER ANNUM. Tenant has been in occupation since 1999 (19 years).
  • REFURBISHED INTERNALLY - 1,541 SQUARE FEET all ground floor - 144 square metres with busy PUBLIC MAIN AREA, PRIVATE OFFICES, TOILETS and KITCHEN. One of the busiest TSB Branches in Tayside. Tenant did not excrete break option in Dec 2017 showing commitment to stay in the property. RENTAL LOW £16,500 P.A
  • ***ATTRACTIVE FRONTAGE.*** Excellent COVENANT For the year ending 31st December 2016, TSB Bank Plc reported pre-tax profits of £182,300,000 and a total net worth of £1,879,200,000 (Source: Experian Group 14/09/2017). TSB has a customer base of 4.5 million retail customers including 550 branches.
  • NEW ENTRY - Let TSB Bank Investment

Tenancy Details:


Type of Agreement Full Repairing & Insuring (FRI)
Length 2019
Rent £16,500 per year / £1,375 per month
Yield 10.1% (at guide price)
Tenant Private Individual
Notes: Let to 'TSB BANK PLC' BEEN IN OCCUPATION SINCE 1999 (19 YEARS) Lease runs till 2019 (recently extended)

Description:

RARE BANK INVESTMENT. The TSB have occupied the property for over 19 years. ***NO VAT PAYABLE ON PRICE.*** PRIME COMMERCIAL INVESTMENT. PRIME FORFAR COMMERCIAL INVESTMENT let to 'TSB BANK PLC' BEEN IN OCCUPATION SINCE 1999 (19 YEARS) Lease runs till 2019 (recently extended) £16,500 per annum on a full repairing and insuring lease ***Next to SEMI-CHEM, OPTICIANS facing BETFRED, near CAR PARK 'Specsavers' LLYODS PHARMACY, Greggs' Boots.****VAT FREE PROPERTY.*** Tenant - LLYODS TSB SCOLAND PLC. Net incomeý: ý£16.6 billion. Operating income £17.5 billion (2016). Rental £16,500 p.a. By the latest deed the term was extended to 24th December 2019 subject to a break date of 25th December 2017 TENANT HAS NOT EXERCISED THE BREAK DATE SHOWING COMMITMENT TO PROPERTY. The rent was increased to £16,500 PER ANNUM. Tenant has been in occupation since 1999 (19 years). ***ATTRACTIVE FRONTAGE.*** Excellent COVENANT For the year ending 31st December 2016, TSB Bank Plc reported pre-tax profits of £182,300,000 and a total net worth of £1,879,200,000 (Source: Experian Group 14/09/2017). TSB has a customer base of 4.5 million retail customers including 550 branches. REFURBISHED PROPERTY - EXCELLENT SIZE RECENTLY RE-FITTED UPGRADED. Ideal long term investment. SUPER FRONTAGE. REFURBISHED INTERNALLY - 1,541 SQUARE FEET all ground floor - 144 square metres with busy PUBLIC MAIN AREA, PRIVATE OFFICES, TOILETS and KITCHEN. One of the busiest TSB Branches in Tayside. Tenant did not excrete break option in Dec 2017 showing commitment to stay in the property. RENTAL LOW £16,500 P.A.

Location:


100% prime location adjacent Semi Chem near Boots, Bank of Scotland, Post Office, Nationwide Supersavers. Forfar is an established market town situated in north central Tayside immediately to the east of the A92 Dundee to Aberdeen trunk road, and is approximately 15 miles from Dundee, the principal administrative centre for the area. It has a population in excess of 14,000 people and is an attractive rural town surrounded by rich farmland. It offers excellent amenities including both primary and secondary schooling.

Rateable Value:


CLICK HERE to visit the Scottish Assessors Association Website & automatically search this property's postcode for values. The Scottish Assessors’ Portal provides details of Council Tax Bands and Rateable Values for all properties in Scotland.

Ownership & Occupation:


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.

Guide Price: £163,000 - Bid Now


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. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set no more than 10% above or below the advertised guide price.

Bid Now Explained:


You may submit an offer now on any of our live properties for the sellers 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.











Internal Open Viewings:


This property may be open for internal viewings at specified times which will be listed on this page when available. You do not need to register to attend these viewings, you can simply turn up as the property will be open during the scheduled times. Our viewing agent will be present to answer any of your questions and provide auction catalogues to viewers.

External Viewings Anytime:


You may view this property externally at any time. Please make sure that if the property is occupied or tenanted that you respect the privacy of the occupants. Additionally we advise that you print a copy of this schedule and take it with you in case of any neighbours questioning you at the property as to your intentions.


















Offer Now:

You may submit an offer now on any of our live properties for the sellers to consider. If they are will are willing to sell you the property now then it is a matter of making the 10% deposit payment to secure the purchase. Complete our ONLINE OFFER FORM now to put your offer forward to the sellers.

Bid Live in Person:

Easily the best method is to attend the auction in person. The Glasgow Radisson is conveniently located in the Glasgow City Centre, a short walk from the Central Train Station and easily accessed from the M8 Motorway. The Edinburgh Marriott Hotel is conveniently located just minutes from Edinburgh Airport and the city centre.

Bid by Phone Live:

If you cant make the auction in person you can still make a live bid by telephone for this property. You will give instruction live over the phone with one of our staff in the room who will bid on your behalf and relay activity in the auction room. To register simply print off, complete and return the below form by email prior to 5pm of the auction day...

Proxy & Phone bidders phone... Download the Telephone Bidders Form

Bid by Proxy: (Ebay Style Highest Bid)

This is another option if you cannot make the auction in person. A Proxy bid is where you will leave your highest maximum bid for the property and the auctioneer will bid on your behalf. You will only ever bid one increment higher than the previous bidder. Proxy bidding rules out any potential issues with telephone reception or nerves regarding bidding in person or by telephone. To register simply print off, complete and return the below form by email prior to 5pm of the auction day...

Proxy & Phone bidders phone... Download the Proxy Bidders Form







  • Auction Date:

    31 July 2018


  • Start Time:

    7.00pm


  • Auction Location:

  • Glasgow Radisson Hotel

  • 301 Argyle Street, G2 8DL


Directions:


View a Map & Directions to the Auction Venue.
Glasgow Radisson | Edinburgh Marriott


Registration:

You will need to be at the auction prior to the 7.00pm start time in order to register & make your way to the auction room. Bidding registration opens from 6:00pm. You will be required to present Photo ID and provide your contact and solicitor details in order to register.

Legal Packs:

All legal packs will be available for inspection at our offices on the day of the auction and at the auction hall from 6:00pm.

Deposits:

If you are a successful purchaser of a lot then a deposit of 10% (minimum £3,000 or lower if specified) will be required. The deposit is accepted by the following methods:

Deposit Method:

Switch, Debit Card, Credit Card, Cash or Bankers Draft accepted only. Next Day Bank Transfer by prior arrangement only.