Well Established Location
Busy Thoroughfare
Let to Coral Racing Ltd
Expiry 21st Feb 2027
Review: September 2021 (Minimum uplift of 2.5% compounded or O.M.V)
Passing Rent: £6,XXX.a
Price: £82,500 representing a Gross Initial Yield of 8.3% rising to a minimum reversionary Yield of 9.4%
Location
The subjects are situated on the North West side of Auchinyell Road, South of its junction with Copper Beech Crt & North of Morrison Drive within the Garthdee suburb of Aberdeen. The area comprises a mixture of commercial and residential premises with road links Aberdeen City Centre approx 2.5miles to the North East.
Aberdeen is the main business and enterprise hub in the North East of Scotland approximately 65miles North of Dundee with extensive investment in education and business. The city has a population of 197,000 with a further catchment of 200,000 in Aberdeenshire and known as Scotland’s 3rd City.
Subjects
The subjects comprise a single storey commercial unit of traditional construction finished in roughcast, surmounted by a pitched tile roof.
The subjects are partially recessed from the main pavement with entrance landscaped and paved with concreted tiles, leading to the entrance way to the subjects themselves.
Accessed via a single timber framed glazed door leading to the main open plan gambling area. Internally, partitions have been erected to form a W.c, staff tea prep, office and main sales counter.
The subjects have been decorated in accordance with the Coral Racing company specifications.
Area
The subjects have been measured on a Net Internal Area basis extending to;
Ground: 73.4sqm (790sq ft)
Investment Summary
Type: Full Repairing & Insuring
Tenant: Coral Racing Limited
Term: 16yrs from 22nd Feb 2011
Break: No Break Option
Passing Rent: £6,XXX.a
Review: September 2021 - To a minimum of 2.5% compounded OR open market rental value. Minimum rent increase to £7,XXXer annum
Tenant Info
Coral is a British betting and gaming company that offers online, mobile and retail products with a chain of betting shops across the UK.
The brand, under the name Gala Coral, joined with Ladbrokes in 2016 to become Ladbrokes Coral Group in a £2.3 billion deal that included the merger of more than 4,000 betting shops and 30,000 employees.
In March 2018, Ladbrokes Coral merged with gaming firm, GVC Holdings. Currently, Ladbrokes Coral has a 46.5% share of the combined business and each brand continues to operate under their respective names.
Price
Our client is offering their freehold interest in the subjects for £82,500 representing a Gross Initial Yield of 8.3% before purchasers costs, with Gross Reversionary Yield of 9.4%
V.A.T
The subjects are not elected for V.A.T
E.P.C
Available on request
Lease & Title
Available via discussion with the marketing agent.
Viewing
Externally or as a customer at any time, no approach is to be made to the staff to view any other area.
Legal
Each party shall bear their own legal costs incurred in the transaction
*internal images for illustrative purposes only