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Lot

66

Main Street, St Boswells, Melrose, TD6 0AT

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Oliver Childs

Oliver.Childs@bidx1.com
+44 (0) 20 3929 8289

Viewings/Registration Enquiries

BidX1 Support Team

info@uk.bidx1.com
+44 (0) 20 7703 4401

Vendor Solicitor

Stephanie Hands

stephanie.hands@tltsolicitors.com
+ 44 (0) 333 006 1013

Description

Map

Viewings


Property Summary
  • Heritable convenience store investment
  • Let to Martin McColl Limited until 2035 (no breaks)
  • Fixed uplifts at 2% pa throughout
  • Current rent £20,603 per annum
Tenure

Heritable (Scottish equivalent of freehold)

Location

The town of St Boswells is located approximately 39 miles south-east of Edinburgh, 59 miles north-east of Carlisle, 10 miles south-east of Galashiels and 22 miles to the north of Northumberland National Park.  The town is located just off the A68 and to the south of Melrose, with the property being situated on the south side of Main Street close to the junction with Jenny Moore's Road.

Description

The property comprises a ground floor retail shop forming part of a larger detached  three storey building of brick construction under a pitched roof. The property sits on a large, almost rectangular site of approximately 0.10 3 hectares (0.254 acres).

Tenancy

Please refer to legal documents

Planning

Scottish Borders Council (0300 100 1800) www.scotborders.gov.uk

VAT
Please refer to the legal documents.
Property Table
UnitAccommodationTenantTenancyRent £pa
Main Street

Ground floor sales 124.38 sq m (1,339 sq ft)

Ground floor store33.09 sq m (1,695 sq ft)

Martin McColl Ltd (1)16.5 years from 21/02/2019£20,603
TOTAL157.47 sq m (1,695 sq ft)  £20,603

The measurements have been taken from the Scottish Assessors Association www.saa.gov.uk.
(1) McColl’s trade from over 1,600 stores throughout the UK with approximately three quarters of those being convenience stores and the remainder trading as newsagents. Their brands include McColl’s, Martin’s and R. S. McColl. For the year ending 26th November 2017 reported a turnover of £713.391 million, a pre-tax profit of £27.168 million and shareholder’s funds of £186.239 million. The combined group has a turnover in excess of £1.1bn. It employs over 22,000 full and part-time staff and is visited by over 5 million customers every week. The company floated on the London Stock Exchange in 2014. Further information can be found at www.mccolls.co.uk/investor

EPC

Refer to the legal pack

*Terms and Conditions

Buyers are strongly advised to read these terms and conditions, and check the Special Conditions and any applicable Addendum, prior to bidding on a Lot. Additional costs, charges and encumbrances may apply for Buyers once they have made a successful bid in relation to a property.

  1. The reserve price is the minimum price at which the property can be sold at auction.
  2. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller may be prepared to sell on the date on which the guide price, or range of prices, is published. The sale price, whether prior to or at the auction, can be above or below the guide price depending upon market activity. BidX1 and the seller accept no responsibility for any losses, costs or damages incurred by a buyer as a result of relying on any guide price. The buyer must decide how much they should bid for any Lot. All guide prices are quoted "subject to contract". Guide prices given by BidX1 or the seller cannot be accepted by the buyer as being a professional valuation for any purpose in accordance with the requirements or guidance notes of relevant professional bodies or other authorities.
  3. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any Lot may exceed the previously quoted guide price (as the seller may fix the final reserve price just before bidding commences).
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  5. A minimum participation fee of £4,500 must be paid by all bidders who wish to partake in the auction. A participation fee of £4,500 is comprised of the £1,000 (inclusive of VAT) administration fee payable directly to BidX1 and £3,500 relating to your bidder security (partial deposit payment). A higher participation fee may be payable depending on the reserve price of the Lot. However, even in those circumstances, the administration fee shall remain at £1,000 (inclusive of VAT). The participation fee is fully refundable if you do not make the successful bid in relation to a Lot at auction. If you make a successful bid in relation to a Lot at auction your participation fee is non-refundable.
  6. Please note that Lots may be sold or withdrawn prior to auction.
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