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Lot 101b

Guide Price: £299,000 - Bid Now

13-15 Broad Street, Fraserburgh, AB43 9AE


Key Features:

PRIME COMMERCIAL INVESTMENT let to 'M & CO' (Mackays Stores Limited) on a recently renewed lease EXTENDED FOR 5 YEARS from 24/06/17 on a full repairing and insuring lease ALREADY BEEN IN OCCUPATION since 1988 (29 YEARS) £30,000 PER ANNUM RENTAL ***PRIME PITCH***RECENTLY COMPREHENSIVELY REFURBISHED.*** EXTENDED 5 YEAR LEASE TO M + CO TENANT BEEN IN SINCE 1988***


  • Super spot with 0 vacancies next door to BOOTS, CARD FACTORY, ICELAND, SEMI-CHEM with the tenant trading exceptionally well hence in occupation since 1988 and recently extended lease for a further 5 years. Mackay Stores Limited trade as M&Co throughout the UK. The first Mackays store opened 50 years ago and now trade from almost 300 stores.
  • GRADE A TENANT (VERY LOW RISK). For the year ending 24/02/2017, Mackays Stores Limited reported a turnover of £165,611,000, a total net worth of £36,441,000. ****VAT FREE PROPERTY.*** Ground Floor - 2627 square feet (RECENTLY REFURBISHED). First Floor - 943 sq feet. TOTAL - 3570 SQ FEET.
  • Ideal long term investment with the property prominently located in the town centre on the BUSIER east side of Broad Street, the town’s principal retailing thoroughfare facing WILLIAM HILL, CANCER RESEARCH & SUPERDRUG. Tenant established almost 30 years and in a 100% prime trading spot. (Better side of the road amongst all nationals 0 empty properties).
  • PRICE DROP - Prime Let M&Co Retail Unit

Tenancy Details:


Type of Agreement Full Repairing & Insuring (FRI)
Length 5 Years
Rent £30,000 per year / £2,500 per month
Yield 10.0% (at guide price)
Tenant Private Individual
Notes: 'M & CO' (Mackays Stores Limited) on a recently renewed lease EXTENDED FOR 5 YEARS from 24/06/17 on a full repairing and insuring lease ALREADY BEEN IN OCCUPATION since 1988 (29 YEARS) £30,000 PER ANNUM RENTAL

Description:

PRIME COMMERCIAL INVESTMENT let to 'M & CO' (Mackays Stores Limited) on a recently renewed lease EXTENDED FOR 5 YEARS from 24/06/17 on a full repairing and insuring lease ALREADY BEEN IN OCCUPATION since 1988 (29 YEARS) £30,000 PER ANNUM RENTAL ***PRIME PITCH***RECENTLY COMPREHENSIVELY REFURBISHED.*** Super spot with 0 vacancies next door to BOOTS, CARD FACTORY, ICELAND, SEMI-CHEM with the tenant trading exceptionally well hence in occupation since 1988 and recently extended lease for a further 5 years. Mackay Stores Limited trade as M&Co throughout the UK. The first Mackays store opened 50 years ago and now trade from almost 300 stores. GRADE A TENANT (VERY LOW RISK). For the year ending 24/02/2017, Mackays Stores Limited reported a turnover of £165,611,000, a total net worth of £36,441,000. ****VAT FREE PROPERTY.*** Ground Floor - 2627 square feet (RECENTLY REFURBISHED). First Floor - 943 sq feet. TOTAL - 3570 SQ FEET. Facing WILLIAM HILL, CANCER RESEARCH & SUPERDRUG. Tenant established almost 30 years and in a 100% prime trading spot. •Prime retail investment in 100% prime pitch PERFECT LONG TERM INVESTMENT PURCHASE VAT FREE & HASSLE FREE.**EXTENDED 5 YEAR LEASE TO M + CO TENANT BEEN IN SINCE 1988** In a press release on 4th September 2017 Mackays Stores Limited the company announced that for year ended February 2017, EBITDA had increased 16% to £11.1 m, and that sales had increased to £165.6 m.

Location:


Fraserburgh is located approximately 40 miles north of Aberdeen and 17 miles north of Peterhead. It is a traditional fishing town and is the largest shellfish port in Europe. The town is the second largest in Aberdeenshire with a population of circa 13,000 and an economy which is based on fishing and engineering. It is also a key centre for commercial and public service facilities. The subject property is located in the town’s prime retail pitch being situated in the same run as Boots, Card Factory and Iceland. 100% PRIME SPOT IN THE TOWN 0 EMPTY VACANCIES AROUND.

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.

Plan:


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: £299,000 - 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:

    12 September 2018


  • Start Time:

    7.00pm


  • Auction Location:

  • Edinburgh Marriott Hotel

  • 111 Glasgow Road, EH12 8NF


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.