• Let to Boots UK Ltd

• Highly secure income – Shareholders’ Funds £1.772 billion

• Lease extended for a further 10 years until February 2029 – no breaks

• 5 yearly rent review to RPI – no cap or collar

• No VAT on purchase price

• Offers in excess of £265,000, subject to contract

• Net Initial yield 7.0%

The unit is situated on High Street, the principal retail location within the Town Centre. Carluke Streetscape, a £2.35M town-centre redevelopment project funded by South Lanarkshire Council, was completed in April 2006. As a result, after many years of pedestrianisation, unidirectional vehicular traffic is now permitted along the town's High Street and Hamilton Street outwith business hours.

Nearby occupiers include Optical Express, Greggs, McColls and soon to be opened Domino’s Pizza.

The subjects comprise a ground floor retail unit which has been extended to the rear. The original unit is within a 3 storey traditional stone building with pitched slate roof. There are residential flats on the upper floors which do not form part of the sale. To the rear is a single storey brick built extension with roughcast finish to the walls and pitched corrugated aluminium sheet roof.

A car park to the rear provides easy servicing of the unit.

Internally the premises are almost entirely open plan with front sales area leading to dispensing area to the rear. Within the sales area is a small consulting room and to the rear there is a staffroom/kitchen and disabled toilet.

The entire premises is fitted to the Boots corporate standard with vinyl floorcoverings, suspended ceilings and fluorescent light. Air conditioning is installed.

Heritable (Scottish equivalent of English freehold).

The unit was originally let on a Full Repairing and Insuring lease (Subject to a Schedule of Condition) to Boots UK Ltd from 14th February 2009 until 13th February 2019 at an initial rental of £13,500pa. The lease has been extended for a further 10 years until 13th February 2029 with no breaks.

The rent is £19,000pa and there is provision for a rent review at the expiry of the 5th year – February 2024 to the RPI compounded over the previous 5 years. There is no cap or collar on the reviewed rent.

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 £265,000 (Two Hundred and Sixty Five Thousand Pounds), subject to contract, which reflects a net initial yield of 7.00%, after allowing for purchasers costs of 2.92%.