Property unavailable
This property advert is no longer active. It is possible that the same property has been re-advertised under a separate listing, click below to view any replacement or similar listings.
Please note we do not have names or contact details of anyone currently occupying this building
we are also unable to provide details of the agents that posted the original advert with us.
If you are the owner of the building and would like to re-post this advert please email renewals@novaloca.com
If you would like to know if this, or any similar property comes back or on to the market
please click here to get updates by email.
Retail Investment, 71 High Street/Bank Street, Annan, DG12 6AA
1,379 Sq Ft / Retail / Investment
Sold - Last updated: 01 April 2016
The property comprises the ground floor of a traditional red sandstone building fully fitted in the modern Ladbrokes trading style. There is extensive corner frontage to both High Street and Bank Street.
Location
The subject property is situated within Annan town centre. Annan is a small county town situated on the south-west of Scotland approximately 15 miles from Dumfries and 21 miles from Carlisle.
It is a traditional agricultural town and serves a wide relatively affluent catchment area and with a population of circa 8,500 persons.
The property is situated in a prime position on the corner of Bank Street and High Street within a building known as Regent House. Ladbrokes took occupation April 2005 having relocated from elsewhere from within the town.
Nearby traders include Superdrug, William Hill and R.S. McColl.
Accommodation
Gross Frontage to High Street - 42 sq ft
Return Frontage - 44 sq ft
Ground Floor - 1,379 sq ft
Terms
LEASE TERMS
The property is leased to Ladbrokes Betting & Gaming Limited. The lease commenced in April 2005 and terminates in April 2020. Ladbrokes had a break option effective April 2015 which was not exercised.
The passing rental is £XXX per annum. We calculate this to reflect a Zone A rate of only £XXX per sq.ft.
RATEABLE VALUE
The property has a rateable value effective May 2010 of £XXX
SALE PRICE
Our clients are seeking offers in excess of £XXX reflecting an attractive net initial yield of 8.5%.
LEGAL COSTS
Each Party will be responsible for their own legal costs incurred in connection with the transaction.
VAT
There is no VAT on the purchase price.
Specification
- Passing Rent £XXX pa
- Ladbrokes Covenant
- Lease expiring 2020
- VAT free purchase
Email me updates about similar new properties
Show similar properties