Let to Caversham Finance Ltd t/a Brighthouse until 2026 (subject to option)
Re-based rent from £45,000 p.a.x.
Pedestrianised town centre location
Nearby occupiers include Superdrug, WH Smith, Boots, Specsavers, Greggs and Costa to open nearby
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 11
Auction 25th May 2017
Rent £35,000 per Annum Exclusive
Status Withdrawn Prior
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
10 miles east of Glasgow, 30 miles west of Edinburgh
Roads
A8, A73, A89, M8
Rail
Airdrie Railway Station (Approx. 23 minutes to Glasgow)
Air
Glasgow Airport
Situation
The property is situated in a prominent retailing position on the south side of pedestrianised Graham Street in the heart of the town centre. Nearby occupiers include Superdrug,
WH Smith, Boots, Specsavers, Greggs and Iceland. Costa Coffee are due to open nearby.
Tenure
Heritable. (Scottish equivalent of English Freehold).
Location
Miles
10 miles east of Glasgow, 30 miles west of Edinburgh
Roads
A8, A73, A89, M8
Rail
Airdrie Railway Station (Approx. 23 minutes to Glasgow)
Air
Glasgow Airport
Situation
The property is situated in a prominent retailing position on the south side of pedestrianised Graham Street in the heart of the town centre. Nearby occupiers include Superdrug,
WH Smith, Boots, Specsavers, Greggs and Iceland. Costa Coffee are due to open nearby.
Tenure
Heritable. (Scottish equivalent of English Freehold).
Description
The propeprty comprises ground floor retail accommodation with ancillary accommodation on the first floor.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The propeprty comprises ground floor retail accommodation with ancillary accommodation on the first floor.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/(Reversion)
Ground First
Retail/Ancillary Ancillary
112.86 sq m 75.21 sq m
(1,214 sq ft) (809 sq ft)
CAVERSHAM FINANCE LTD t/a Brighthouse (1)
10 years from 25/03/2016 on a full repairing and insuring lease (2)
£35,000 (3)
25/03/2021 (4) (24/03/2026)
Total
188.07 sq m
(2,023 sq ft)
£35,000
(1) For the year ending 31st March 2016, Caversham Finance Limited reported a turnover of £364,950,000, pre-tax profits of £22,515,000 and a total net worth of £162,336,000 (Source: Experian Group 26/04/2017). (2) The lease is subject to a tenant option to determine on 25th March 2023. (3) The tenant is currently benefitting from a concessionary rent of £13,124 p.a.x. due to expire on 25th March 2018. The seller has agreed to adjust the completion monies so that the unit will effectively produce £35,000 p.a.x. from completion of the sale. (4) The lease provides for an open market upwards only rent review on 25th March 2021, subject to a maximum of 3% per annum compounded.
