• Retail investment opportunity

• Let to Superdrug Stores plc – 5A1 covenant

• Lease expires January 2022

• Heritable interest

• £475,000, subject to contract

• 8.0% net initial yield

The property is situated on the west side of Victoria Road between its junction with Torrisdale Street and Prince Edward Street. The property occupies a prominent main road location, with retail units located on both sides of the street. Immediately adjacent is Sainsbury’s Local and Bank of Scotland and other nearby occupiers include William Hill, Tesco Express and Farmfoods.

The property comprises a large two storey and basement sandstone building originally constructed as a post office. Comprehensively refurbished in 2012 by the tenant the interest for sale comprises the ground floor and basement of the building with the first floor in separate ownership.

The unit has a large double frontage with an open plan sales area on ground floor. A staircase and goods lift provide access to the basement which provides storage and staff facilities.

Heritable (Scottish equivalent of English freehold).

Tenancy

The property is let to Superdrug Stores plc on a Full Repairing and Insuring lease from 16th January 2012 until 15th January 2022. The lease benefits from an upwards only rent review on 16th January 2017.

The current passing rent is £40,000 per annum.

Superdrug Stores plc (Company No 00807043) has reported the following figures:

Superdrug was founded in 1964 and are the United Kingdom's second-largest beauty and health retailer currently operating over 800 stores in England, Scotland, Wales, Northern Ireland and the Republic of Ireland. They currently have 200 in-store pharmacies and employ 14,000 people.

VAT will be payable on the purchase price and we anticipate the transaction will be treated as a Transfer of a Going Concern (TOGC).

Each party shall be responsible for their own legal costs incurred in the transaction, with the purchasers responsible for LBTT.

1. An opportunity to acquire a retail investment let to the highly secure covenant of Superdrug Stores plc;

2. The property occupies a prominent main road location;

3. 5.25 years unexpired lease term;

4. The property provides an ideal lot size for a private investor as well as an attractive net initial yield.