Highly Secure Retail Investment

68-70 High Street | Carluke | ML8 4AJ


subject to contract



  • 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%

investment opportunities carluke uk ML8 4AJ


The town of Carluke lies in the heart of South Lanarkshire, Scotland, 4.7 miles (7.6 km) north-west of Lanark and 4.2 miles (6.8 km) south-east of Wishaw.

Carluke is Clydesdale's largest town with a population of 13,300. It is largely a commuting town, with a variety of small stores and supermarkets available at its centre. It has a locally important shopping centre and has seen a recent boom in house building thanks to its direct train link with Glasgow. The surrounding villages of Braidwood, Forth, Kilncadzow, and Law are supported by the various shops and services available in Carluke.


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.

investment opportunities carluke uk ML8 4AJ
investment opportunities carluke uk ML8 4AJ


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.


We calculate the property to have a net internal floor area of 125.46 sq m (1,350 sq ft) and an ITZA of 79.02 sq m (850 sq ft).

investment opportunities carluke uk ML8 4AJ
investment opportunities carluke uk ML8 4AJ


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.

investment opportunities carluke uk ML8 4AJ
investment opportunities carluke uk ML8 4AJ


Boots UK Ltd has reported the following trading figures;

  31st Aug 2017 31st Aug 2016
Turnover £6,837,000,000 £6,876,000,000
Pre-Tax Profit £ 498,000,000 £ 523,000,000
Shareholder’s Funds £1,772,000,000 £1,204,000,000

Boots is the largest pharmacy health and beauty chain in the UK and as at 31st August 2018 had 2,485 stores, 618 Boots Opticians practices, and 503 Boots Hearingcare locations.

Over 90% of the UK population is within 10 minutes of a Boots store. They employ around 56,000 Boots UK staff with around 22,000 healthcare providers of which around 6,500 are registered pharmacists.

Boots UK is also part of the Retail Pharmacy International Division of Walgreens Boots Alliance, the first global pharmacy-led health and well-being enterprise.


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

investment opportunities carluke uk ML8 4AJ
investment opportunities carluke uk ML8 4AJ


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%.

Investment Considerations

  1. Highly secure investment – Shareholder’s Funds in excess of £1.7 billion;

  2. Newly extended lease until 2029 – no breaks;

  3. Tenant been in occupation for 10 years;

  4. Guaranteed rent increase at the end of Year 5;

  5. Ideal lot size for private investor;

  6. VAT free investment.

investment opportunities carluke uk ML8 4AJ

Contact us

Singer Vielle   +44 (0) 207 935 7200
Graham Waddell graham@singervielle.co.uk +44 (0) 141 221 4545
Douglas Wilson douglas@singervielle.co.uk +44 (0) 141 370 0284
Dale Henry dale@singervielle.co.uk +44 (0) 203 701 1356
Neil Singer neil@singervielle.co.uk +44 (0) 203 478 9120
Daniel Elia daniel@singervielle.co.uk +44 (0) 203 701 1353

Vendors' Solicitor

Anderson Strathern LLP +44 (0)131 270 5356
Gavin Thain Gavin.thain@andersonstrathern.co.uk