Let to Kwik-Fit (GB) Limited (guaranteed by Kwik-Fit Holdings Limited) until 2032 (no breaks)
Prominent roadside position fronting busy Glasgow Road (A814)
Short distance from Saint James Retail Park
Approximate site area of 0.10 hectares (0.25 acres)
Fixed rental increase to £21,703.93 in 2017
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 30
Auction 19th May 2016
Rent £21,703 per Annum Exclusive
Status Sold
Price £306,000
Sector Motor Trade/Petrol Station
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
14 miles north west of Glasgow, 33 miles south west of Stirling and 58 west of Edinburgh.
Roads
A814, A82, M898
Rails
Dumbarton East Rail
Air
Glasgow International Airport
Situation
Dumbarton is a popular commuter town just 14 miles north west of Glasgow. The property occupies a pominant roadside loation fronting Glasgow Road (A814) a short distance from the Saint James Retail Park which houses occupiers such as Marks & Spencers, McDonalds and Argos.
Tenure
Heritable. (Scottish Equivalent of English Freehold).
Location
Miles
14 miles north west of Glasgow, 33 miles south west of Stirling and 58 west of Edinburgh.
Roads
A814, A82, M898
Rails
Dumbarton East Rail
Air
Glasgow International Airport
Situation
Dumbarton is a popular commuter town just 14 miles north west of Glasgow. The property occupies a pominant roadside loation fronting Glasgow Road (A814) a short distance from the Saint James Retail Park which houses occupiers such as Marks & Spencers, McDonalds and Argos.
Tenure
Heritable. (Scottish Equivalent of English Freehold).
Description
The property comprises a ground floor tyre depot with reception area and storage/staff accommodation. The site is approximately 0.10 hectares (0.25 acres) and benefits from four roller shutter doors, a rear yard and a forecourt to park approximately five cars.
Six Week Completion
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor tyre depot with reception area and storage/staff accommodation. The site is approximately 0.10 hectares (0.25 acres) and benefits from four roller shutter doors, a rear yard and a forecourt to park approximately five cars.
Six Week Completion
VAT
VAT is applicable to this lot.
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
Tyre & Exhaust Centre
223.70 sq m
(2,408 sq ft)
KWIK-FIT (GB) LIMITED (1) (GUARANTEED BY KWIK-FIT HOLDINGS LIMITED (2)
25 years from 20/03/2007 until 19/03/2032 on a full repairing and insuring lease
£21,703
20/03/2017 and five yearly
Totals
223.70 sq m
(2,408 sq ft)
£21,703 (3)
(1) For the year ending 31st March 2015, Kwik-Fit (GB) Limited reported a turnover of £472,480,000, pre-tax profits of £17,930,000 and a total net worth of £47,325,000. (Source: Experian - 04/04/2016) (2) For the year ending 31st March 2015, Kwik-Fit Holdings Limited reported a total net worth of £28,527,000. (Source: Experian - 31/03/2016) (3) The lease provides fixed rental increase to £21,703.93 in 2017. The seller has agreed to adjust the completion monies so that the unit will effectively produce £21,703.93 p.a.x. from completion of the sale.
