• To be sold by Best Offers - by noon on Tuesday 3rd July 2018

• Let to Bestway National Chemists Limited t/a Well

• Highly secure income – Shareholders’ Funds £161 million

• New 15 year lease from February 2018 – no breaks

• Unit has traded as a pharmacy for over 20 years

• 5 yearly rent reviews to CPI – no cap or collar

• No VAT on purchase price

• Offers in excess of £240,000, subject to contract

• Net Initial yield 7.08%

The property occupies a main road location fronting Murray Street, which is one of the principal routes leading into the town centre. Murray Street feeds into High Street and the subjects are approximately 2 minutes’ walk from the prime retailing pitch within the town. The immediately surrounding properties are occupied by a variety of local traders including Milro Sports, Newsagent and Montrose Gun & Tackle.

The shop comprises the ground floor of a 3 storey mid-terraced building. There are residential flats on the upper floors which are in separate ownership. The unit has a large double frontage with central entrance doors and corporate display fascia. Internally the shop has a modern shop-fit with linoleum floor coverings and suspended ceilings throughout.
There is an open plan sales area to the front with consulting room and rear storage area with staffroom and toilets.

Heritable (Scottish equivalent of English freehold).

The property is let to Bestway National Chemists limited (t/a Well) on a new Full Repairing and Insuring lease for a period of 15 years with effect from 4th February 2018. There is provision for 5 yearly upwards only rent reviews to CPI with no cap or collar on the rent.

The initial rent is £17,500 per annum which equates to a rent of £21.95/sq ft

The property is not presently opted to tax therefore VAT will not be payable on the purchase price.

We are instructed to seek offers in excess of £240,000 (Two hundred and forty thousand pounds), subject to contract, which reflects a net initial yield of 7.08%, after allowing for purchasers costs of 2.92%.