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47 High Street, Wick, KW1 4BP

5,216 Sq Ft / Retail

For Sale - £85,000.00

Available - Last updated: 15 March 2019

Town Centre Location

Basement, Grnd & 1st Floor

5,216sq ft

F.R.I Lease Held on Personal Name

Lease Expiry 9th October 2025

Passing Rent: £8,000p.a.x

Offers Over £85,000 Representing a G.I.Y of 9.4%

 

Location 

 

The subjects are situated on the South West side of High Street, between its junctions with Kirk Lane to the South and Whitechapel Rd to the North within Wick’s town centre. 

 

Wick is located on the North East coast of Scotland approx 100miles North of Inverness and 20miles south east of Thurso. Road access is via the A9/A99 and the town also enjoys rail services at Wick station. Neighbouring occupiers include Boots, the Post Office, Wellington Guest House & Semi-Chem.

 

Subjects

 

The subjects comprise a ground, 1st and basement floor retail unit set within a 3 storey building of traditional stone construction surmounted by a pitched slate roof.

 

The subjects under consideration offer a ground floor retail unit with double frontage benefitting from timber framed glazed display windows and recessed access with twin timber framed glazed doors.

 

Internally, the subjects have been painted and decorated to suit the tenants requirements, with floors being overlaid by commercial linoleum, lighting is provided by fluorescent strips, recessed within a suspended acoustic tile ceiling. 

 

First and basement floors are accessible via internal timber stairwells offering further retail, storage, w.c facilities, private office and staff area. 

 

Area

 

The subjects offer the following floor areas

 

Basement: 143.7sqm (1,547sq ft)

Ground: 184.7sqm (1,988sq ft)

1st Floor: 156.2sqm (1,681sq ft)

 

Executive Summary

 

The subjects are held on a full repairing and insuring lease on the following terms

 

Tenant: Personal Name

Term: 1st October 15 - 30th Sept 2025

Passing Rent: £8,000p.a.x

 

Tenant Info

 

Nickel & Dime Stores operate approx 34 stores throughout townships in Scotland, primarily trading as convenience, hardware & homeward stores. The stores’ retailing aspect is dictated by market demand. 

 

Proposal

 

Our client is offering their freehold interest in the subjects for offers in excess of £85,000, representing a Gross Initial Yield of 9.4% before purchasers costs.

 

E.P.C

 

Available on request

 

V.A.T

 

Our client has opted to waive their option to tax, as such the transaction will be treated as a Transfer of a Going Concern (ToGC). Further information available on request.

 

Legal

 

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

 

Lease & Title

 

Copies available on request via the marketing agent

 

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
  For Sale Freehold £85,000.00 NA

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Will Rennie

TSA Property Consultants

0141 538 0192



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