Prime Town Centre Location
Ground Floor
Well Presented
Rear Loading
Held On F.R.I Lease To TK Maxx
Expiry: 2029
24,048sq ft
Passing Rent: £150,000
Sale: o/o £1,350,000
Location
The property is prominently positioned on Thunderton Place accessed directly via a pedestrianised lane from Elgin High Street. There is a multi-story car park positioned above the property which generates high levels of footfall to the High Street. The immediate area is predominantly retail however there is an affluent residential area to the south.
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 property forms part of the prime retail pitch which includes the High Street and the St Giles Centre.
Property
The property is a large retail property which has been sub- divided to form two large retail units with communal lobby. Both units benefit from return frontage on to Thunderton Place. There is ancillary offices and storage space on ground levels. There is a generous loading area to the rear with access from Thunderton Place and Batchen Lane which links into each respective unit.
There is a large multi-story car park above the property (out with the demise) which has direct lift access to the communal lobby. This generates high footfall through the property to and from the High Street.
The property is presented in line with the tenants spec, with concrete flooring, suspended lighting and large open plan layout.
Area
The property has been calculated to extend to the following internal area
Ground: 2,234.13sqm (24,048sq ft)
NAV/RV
£130,000
Lease Summary
The property is held on a full repairing and insuring head lease on the following terms;
Tenant: TJX UK t/a TK Maxx
Expiry: 30/08/2029
Passing Rent: £150,000p.a.x
Further Info: For the year end 28th January 2023, TJX UK reported a turnover of £3,887,200,000 a pre-tax profit of £172,400,000 shareholder's funds of £679,000,000 and a net worth of £679,000,000 (Source:Experian 27.03.2024). https://www.tkmaxx.com/uk/en/about-us
Sale
The property is available on a freehold basis for o/o £1,350,000
V.A.T
The property has been elected for V.A.T. as such the transaction may be treated as a T.O.G.C (transfer of a going concern)
E.P.C.
Available on request
Lease & Title
Available on request
Legal
Each party shall bear their own legal costs incurred in the transaction
Anti-Money Laundering
In order to comply with anti-money laundering legislation, the successful purchaser / tenant will be required to provide certain identification documents. The required documents will be confirmed to and requested at the relevant time.
