The premises comprise a mid-terraced single storey retail unit of modern construction surmounted by a pitched roof. The property benefits from a prominent frontage facing onto a shared car park.
Internally the premises comprise open plan sales area to the front and is fitted out in accordance with the tenant’s corporate specifications.
Location
Montrose has a population of around 12,000 and is well located with Aberdeen 35 miles to the north, Dundee 30 miles to the south and Forfar 17 miles to the east. The A90 is located close-by and the town is served by a mainline railway station.
The premises are located on the south side of New Wynd, between its junction with Baltic Street and Market Street within the town centre. Neighbouring occupiers include Argos and Dominos with Scotmid, Boots, Peacocks and WH Smith all located nearby on High Street.
Accommodation
The ground floor extends to the following approximate areas:
Ground Floor: 4,553 sq ft / 423 sqm
Terms
Tenancy - Let to Screwfix Direct Ltd on a 20 year FRI lease (with Schedule of Condition) commencing on 14th June 2024 with tenant break options on the 10th and 15th anniversaries. The passing rent is £45,XXXa with 5 yearly rent reviews to OMV.
Covenant Information - For the year ended 31 January 2023 Screwfix Direct Ltd reported a turnover of £2,345.4m, a pre-tax profit of £243.5m. As at 31 January 2023 total number of UK stores was 838.
Price - Offers invited.
Legal Costs - Each party to be responsible for their own legal and professional costs incurred in this transaction. For the avoidance of doubt the purchaser will be responsible for LBTT, registration dues and any VAT payable thereon.
Specification
- Attractive long term investment
- Let to Screwfix Direct Ltd
- 20 year lease with tenant breaks at 10 & 15
- Rent £45,XXXa Offers are invited