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PORTFOLIO INVESTMENT FOR SALE: 19-33 Batchen Street & 69-71 South Street, Elgin

For sale: £695,000.00|Retail, Leisure, Retail - High Street, Restaurant/Cafes, Restaurant/Cafes, Restaurant/Cafes

PROPERTY DETAILS

FOR SALE£695,000.00
ADDRESS 19-33 Batchen Street & 69-71 South Street, Batchen Street, Elgin, IV30 1BH
TYPERetail, Leisure, Retail - High Street, Restaurant/Cafes, Restaurant/Cafes, Restaurant/Cafes
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON18th June 2019

DESCRIPTION

Town Centre Location
Close to All Major Retailers and Parking
Fully Let Portfolio
8 Retail, Food & Leisure Units
Passing Rent: £81,040per annum
ERV: £91,877per annum
Price: £695,000

Location

The subjects occupy a prominent position on the North West corner of Batchen Street at its junction with South Street within Elgin’s town centre. Elgin, the administrative and commercial centre of Moray district, is an affluent market town with a resident population of some 21,000 and a primary catchment of approximately 90,000 within a 10 mile radius.

Located on the Moray Firth, approximately 40 miles east of Inverness and 65 miles north west of Aberdeen, the town benefits from good road (A96) and rail communications connecting to the respective national networks.

The town lies in the heart of the world famous Speyside Whisky country and together with ready access to the Cairngorm National Park and Malt Whisky Trail ensures Elgin is a popular tourist destination.

RAF Lossiemouth, one of the RAF’s largest bases, is also located nearby and contributes significantly to the local economy.

Subjects

The properties comprise a parade of primarily 2/3 storey traditional stone terraced buildings with pitched and slated roofs. The individual shops are occupied by a variety of food, leisure and retail uses, all fitted out internally to modern standards.

Such retailers as TK Maxx, Poundstretcher and Toymaster are all within close proximity as is one of the town centres main public car parking facilities (226 spaces).

Executive Summary

All leases are held on a full repairing and insuring basis with upwards only rent reviews.

Proposal

Our client is offering their freehold interest in the portfolio for offers in excess of £695,000 representing a gross initial yield of 11.2% before purchasers costs.

V.A.T.

The subjects have been elected for V.A.T as such the transaction will be treated as a Transfer Of a Going Concern (ToGC)

Lease’s & Title

Available on request

Viewing

By appointment only

Legal

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


LOCATION

Location: 19-33 Batchen Street & 69-71 South Street, Batchen Street, Elgin, IV30 1BH

Elgin (0.5 miles)

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