• Prominent roadside location

• Let to Martin McColl Ltd – Shareholders’ Funds £186 million

• 11.25 years unexpired lease term

• 5 yearly fixed rental uplifts - 2% pa compounded

• Offers in excess of £1,255,000, subject to contract

• 7.50% Net Initial Yield

• 8.28% Guaranteed Reversionary Yield in March 2020

The subject property, which is the only major petrol filling station in the immediate area, occupies a prominent position on the main Coldingham Road (A1107) on the approach to Eyemouth Harbour. The A1 is approximately 3.2 km (2 miles) to the south. Coldingham Industrial Estate is situated nearby and the surrounding area comprises a mixture of commercial and residential properties.

The property comprises a modern single storey building under a pitched slate roof with a canopy to the front. It is arranged as a convenience store with adjoining restaurant unit.

The petrol forecourt has 6 pumps with an LPG station.

Heritable (Scottish equivalent of English freehold)

The entire property is let on a Full Repairing and Insuring lease to Martin McColl Ltd for a term of 20 years from 22nd March 2010, expiring on 21st March 2030 (approximately 11.25 years unexpired). The lease benefits from 5 yearly rent reviews based on a fixed uplift of 2% per annum compounded. The next rent review is on 22nd March 2020.

The current passing rent is £99,364 per annum and this will increase to £109,705.87 on 22nd March 2020.

The restaurant is sub-let to Fang Xin Chen (t/a Jade Garden).

The property has been elected for VAT. Therefore, it is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).

We are instructed to seek offers in excess of £1,255,000 (One Million Two Hundred and Fifty Five Thousand Pounds), subject to contract, which reflects a net initial yield of 7.50% and a guaranteed reversionary yield of 8.28% in March 2020.