Warning - This property listing has now expired.

Any changes made to the content of this listing WILL NOT BE SAVED. However, you can still change the property status (i.e. available/sold/let etc).

To renew this property or for further assistance please call 01767 313380 or email renewals@novaloca.com.

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This property advert is no longer active.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.

Prime High Street Retail Unit, 31 Albert Street, Kirkwall, KW15 1HL

10,420 Sq Ft / Retail

Sold - Last updated: 06 January 2024

Prime High Street Location

Held on F.R.I Lease

Tenant: Poundstretcher Ltd

Expiry: 31st August 2032

Passing Rent: £XXXp.a.x

Fixed Increase To £XXXp.a.x

Sale: £XXX

 

Location

 

The property is situated on the west side of Albert Street, south of its junction with Laing Street within the town of Kirkwall in Orkney. Kirkwall is the largest town in Orkney, an archipelago to the north of mainland Scotland. Neighbouring occupiers include Santander, Gramble Glass, M & Co, Sinclairs Ice Cream and Boots. 

 

Property

 

The property comprises a substantial ground floor retail space set within a larger 2 storey commercial development, with a 2 storey extension to the rear under a pitched roof within Kirkwall town centre. 

 

Offering a prominent, aluminium framed and glazed frontage with access via triple, double door entrances leading to the open plan retailing space.

 

Internally, the property benefits from a refurbishment in keeping with Poundland’s standard corporate specification, with floors overlaid in commercial grade linoleum, lighting is provided by way of fluorescent strip banks recessed within the suspended acoustic tile ceiling. 

 

Partitions have been erected to the rear to form store room, staff area, w.c. facilities and loading area with access gained via Junction Road. 

 

Executive Summary

 

The property is held on a full repairing and insuring head lease on the following terms;

 

Tenant: Poundstretcher Limited

Expiry: 31st August 2032

Tenant Break: 1st September 2027

Passing Rent: £XXXp.a.x.

Review: 1st August 2027 with fixes increase to £XXXp.a.x

Further Info: Previously tenanted by Poundland 

 

Area

 

The following floor area has been calculated on a gross internal area basis to extend to the following;

 

Ground: 968sqm (10,420sq ft)

 

Price

 

The property is available for a price of £XXX offering a reversionary yield of 10%

 

V.A.T.

 

Figures quoted are exclusive of V.A.T.

 

E.P.C.

 

A copy of the E.P.C. will be made available for any interested party

 

Title & Lease

 

Available on request

 

Legal

 

Each party shall bear their own legal costs incurred in the transaction 

 

Anti-Money Laundering 

 

In order to comply with anti-money laundering legislation, the successful purchaser / tenant will be required to provide certain identification documents. The required documents will be confirmed to and requested at the relevant time. 

 


Email me updates about similar new properties


Show similar properties

Contact agents

Thank you for your enquiry

The agent for this property will get back to you as soon as possible.

Would you like to view similar properties now?

Many thanks, your enquiry has been sent to the agent

In response to the boxes you ticked, we'd like to send you emails about new & updated properties based on the following (please amend as required):


Please note, NovaLoca will only contact you about commercial property & you can unsubscribe at any time. Your information will not be given to third parties without your permission. For more information please refer to our privacy policy.