2-4 High Street, Peebles, EH45 8SF
£540,000 Offers in Excess Of
322 - 3,369 Sq ft
The subjects occupy a highly prominent corner position at the junction of Eastgate / High Street (A72), and Northgate within the heart of Peebles town centre. The High Street and the surrounding area provide an eclectic mix of uses and both national and local / independent occupiers.
The subjects comprise accommodation arranged over basement, ground and first floors of an iconic three storey Category B listed building dating back to 1885-1886. The upper floors are in separate ownership and in residential use. The unit trades as a Costa Coffee shop and provides bright and spacious sales and seating areas at ground floor together with kitchen facilities and disabled WC. A manager’s office as well as staff and customer WCs are on the first floor.
Basic basement accommodation is separately accessed from the tenement stairwell at No. 4 High Street and is not leased to Costa but is included in the sale.
|Basement||911 Sq ft|
|Ground||2,136 Sq ft|
|First||322 Sq ft|
|TOTAL||322 - 3,369 Sq ft|
- Highly prominent corner position
- Popular high street location
- Let to Costa Limited
- “Very low risk” tenant with net worth in excess of £616M
- Lease expiring 5th November 2030
- Tenant break options 6th November 2021 and 6th November 2026
- Current passing rent of £35,000 per annum
- £540,000 (exclusive of VAT) reflecting a net initial of 6.2%