TO LET
RETAIL UNIT
• HIGH QUALITY FIT OUT
• OCCUPIERS INCLUDE MARKS & SPENCER, TK MAXX AND ARCADIA.
Location
The subjects are situated within the prime retail development of Union Square, located on the East Terrace of the retail park section of the development. There are 3 car parks at Union Square offering a total of 1,700 car parking spaces, both covered and uncovered and Union Square can be accessed via Market Street, Palmerston Road and College Street. The development is also in close proximity to Union Street which is situated to the north of the subjects.
Union Square extends to approximately 700,000 square feet with over 80 retail and restaurant units in the covered mall and adjoining retail park. In addition, the centre benefits from a 10 screen cinema, 203 bedroomed Jury’s Hotel and is highly accessible integrating with Aberdeen’s public transport hub.
The centre benefits from footfall averaging over 230,000 per week with tenants including Marks & Spencer, Next, Zara, Hollister, Apple, Waggamama and Yo Sushi.
The Ordnance Survey extract overleaf is for identification purposes only.
Accommodation
The subjects have been measured in accordance with the RICS Code of Measuring Practice (6th Edition) on a gross internal floor area basis and are as follows:-
Ground Floor 468.42 m² (5,042 ft²)
Mezzanine Level 362.7 m² (3,904 ft²)
TOTAL 831.12 m² (8,946 ft²)
The current occupier has installed the mezzanine level and therefore is a tenants improvement and will not be rentalised at review.
Terms
ENERGY PERFORMANCE CERTIFICATE:
The subjects have a current Energy Performance Rating of “ D “
Further information and a recommendation report is available to seriously interested parties on request.
RATING:
The subjects are currently entered in the Valuation Roll at a Rateable Value of £130,000. We would point out that an incoming occupier would have the opportunity to appeal this Rateable Value.
LEASE TERMS & RENTAL:
The subjects are currently held on a full repairing and insuring lease by way of service charge from 4th April 2011 with an expiry of 27th February 2021. The current rent passing is £138,655 per annum and is subject to a rent review on 28th February 2016.
It is our clients intention to assign their interest in the subjects.
LEGAL COSTS:
The ingoing tenant will be responsible for all legal costs arising from the transaction to include the cost of obtaining landlords consent, Stamp Duty Land Tax, Registration dues, etc.
ENTRY DATE:
Immediate upon conclusion of legal missives.
VIEWING:
For further information or viewing arrangements please contact the sole agents:-
J & E Shepherd,
Chartered Surveyors
35 Queens Road,
Aberdeen AB15 4ZN
Tel: 01224 202800
Fax: 01224 202802
Publication date: September 2013
Email: mark.mcqueen@shepherd.co.uk
Contact: Mark McQueen
Specification
DESCRIPTION:
The subjects are situated on the East Terrace of the retail park of Union Square with the extensive uncovered parking immediately adjacent the subjects. The property is of steel portal frame construction with block infill walls with metal cladding above. The subjects benefit from an extensive glazed frontage with automatic double door entrance leading into the unit.
Internally, the subjects have been fitted to an extremely high standard and have a tiled floor, plastered and painted walls and a suspended ceiling with recessed pendant light fittings. Air conditioning cassettes providing heating and cooling are also contained within the suspended ceiling. To the rear of the ground floor there is a passenger lift leading to the mezzanine level, disabled W.C. facilities and access to the rear loading facility.
A mezzanine level sales area has been installed within the subjects which have been fitted to a similar standard and to the rear staff facilities and a small office area.