Town Centre Location
Prime Retailing Thoroughfare
Ground Floor
Renovated Unit
Let To Duncan & Todd
Expiry March 2033
V.A.T Free
Passing £11,500p.a.
Price: £147,500
Location
The High Street and the surrounding area provide an eclectic mix of uses and both national and local / independent occupiers. Notable occupiers in the immediate vicinity include Boots, Fat Face, RBS and Greggs.
Peebles is an attractive market town situated in an area of outstanding beauty on the banks of the River Tweed and Eddleston Water 23 miles south of Edinburgh.
The town is the third largest in the Scottish Borders with a population in excess of 8,000 people and a wide surrounding rural catchment area. It is popular for its accessibility and proximity to Edinburgh and also as a year round tourist destination for its picturesque and unspoilt character
Peebles has a long history dating back to the 12th Century when the town was awarded its status of Royal Burgh. The Old Town and The New Town including the High Street with its rich assortment of commercial properties and churches.
Property
Investment Summary
Property
The property comprises ground floor commercial unit set with a larger three story development of traditional sandstone construction surmounted by a pitched roof.
The property offers a single display window frontage with partially recessed entrance door accessible from street level. Internally the property offers on open plan retailing space with partitions erected to form private consultation room and WC facility to the rear.
Area
76.18sqm (820sq ft)
Lease Summary
The property is held on an F.R.I Lease to Duncan & Todd Ltd expiring 19th March 2033 with a passing annual rent of £11,500per annum. We understand there are no provisions for tenant break options.
Further: Duncan & Todd Ltd are part of the larger Duncan & Todd Group operating Optical and Hearing clinics across Scotland. The group operate 43 units across Scotland employing over 370 staff with brands including; 20/20 Opticians, Duncan & Todd, Browns Opticians, James Hughes amongst others. For the financial year ending 31st March 2024, Duncan & Todd Ltd reported an annual turnover of £27.579m with gross profit of £18.9m showing a 12% increase on the previous year.
Sale
The property is available on a freehold basis for £147,500
VAT
Figures quoted our exclusive of VAT.
Legal
Each party shall bear their own legal course incurred in the transaction
Viewing
While it is a good idea to visit a property investment that has been marketed for sale as a customer before making a formal viewing. It is vitally important that such visits are confidentially and no approaches to be made to the staff operators or customers of the business many investments are being marketed confidentially and the staff and locals may not know that the property is on the market therefore a casual approach can adversely affect the business.
Anti Money Laundering
TSA Property Consultants are regulated by HMRC in its compliance with the UK Money Laundering under the 5th Directive of the Money Laundering Regulations, effective from 10th January 2020, the agents are required to undertake due diligence on interested parties.