• Prime City Centre Retail Investment

• Highly Secure Income

• Let to EE Limited – Pre-Tax Profits £416 million

• New lease from December 2016

• Re-based rent

• Prominent retailing position

• £715,000, subject to contract

• 8.0% net initial yield

The subject property occupies a prominent position on Union Street. Also known as the ‘Granite Mile’, Union Street is the major shopping thoroughfare in Aberdeen and home to national retailers, designer outlets, boutiques and independent retailers.

National retailers surrounding the subject property include McDonalds, Primark, Molton Brown, Clarks, All Saints and Goldsmiths.

Union Street sits alongside a number of shopping centres:

Union Square Shopping Centre is immediately to the south of the subject property. A mixed-use retail-led scheme which opened in 2009, Union Square comprises 557,570 sq ft (51,800 sq m) with 79 tenants, 1,200 car parking spaces and a footfall of 15.3 million. The centre has a very wealthy and fashion conscious catchment with over 700,000 customers living within its principal catchment and includes a shopping park, 10 screen cinema as well as a 200 bed Jury’s hotel. Brands include Hugo Boss, Joules, The White Company, Apple, Superdry and House of Fraser (Source: Hammerson).

The Trinity Shopping Centre is approximately 250 feet from the subject property and comprises around 34 retail units anchored by Debenhams and Primark with other key retailers including Superdrug, Argos, Greggs, Schuh, HMV, Holland & Barrett and Waterstones.

Bon Accord & St Nicholas Shopping Centre is situated 0.32 km (0.2 miles) north of the subject property. With over 70 fashion, beauty and homeware stores as well as a food court, the centre totals 81,290 sq m (875,000 sq ft) with 6 flagship stores including a 9,290 sq m (100,000 sq ft) John Lewis and a 10,219 sq m (110,000 sq ft) Marks & Spencer. Other occupiers include Carphone Warehouse, Next, Boots, Disney Store, H&M and Jo Malone.

The interest for sale comprises the ground floor and basement levels of the building. The upper parts, which comprise a dental practice on first floor and residential on second & third floors, are in separate ownership. Internally, the property has been fitted out to a high standard in the tenant’s corporate image.

We understand the property is Category C listed and situated within a Conservation Area.

Absolute (Scottish equivalent of English freehold).

EE Limited (Co. No.02382161) has reported the following figures;

EE, which was acquired by BT Group Plc in January 2016, is the largest and most advanced digital communications company in Britain, delivering mobile and fixed communication services. EE has approximately 553 retail stores, and services more than 31 million connections across its mobile, fixed and wholesale networks. For further information, please visit ee.co.uk.

The property has been opted to tax. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).

1. An opportunity to acquire a retail investment in the heart of Aberdeen city centre;

2. The investment provides highly secure income being let to EE Limited – Pre-Tax Profits £416 million;

3. The tenant has recently demonstrated their commitment to this property by entering into a new lease;

4. Rent re-based in December 2016;

5. The property occupies a prominent retailing pitch on Union Street, the city’s main retailing thoroughfare;

6. The property is a listed building, hence there are no business rates payable;

7. Attractive lot size to an investor;

8. A purchase at the asking price reflects an attractive net initial yield.