Bank of Scotland 100 - 102 Cowgate Kirkintilloch East Dunbartonshire G66 1JQ

Bank of Scotland
100 - 102 Cowgate
Kirkintilloch
East Dunbartonshire
G66 1JQ

Heritable Bank Investment

  • Entirely let to Bank of Scotland Plc - part of Lloyds Banking Group Plc
  • New 15 year lease from 29th December 2016 (No Breaks)
  • Favourable alienation provisions within the lease
  • Prominent town centre location close to The Regent Centre
  • VAT-free Bank Investment
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    18
  • Auction
    30th March 2017
  • Rent
    £40,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £640,000
  • Sector
    Bank
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Heritable Bank Investment

  • Entirely let to Bank of Scotland Plc - part of Lloyds Banking Group Plc
  • New 15 year lease from 29th December 2016 (No Breaks)
  • Favourable alienation provisions within the lease
  • Prominent town centre location close to The Regent Centre
  • VAT-free Bank Investment
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 18
  • Auction 30th March 2017
  • Rent
  • Status Sold
  • Price £640,000
  • Sector
    Bank
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
9 miles west of Cumbernauld, 10 miles north-east of Glasgow City Centre
Roads
A803, A806, M8 and M80
Rail
Lenzie Railway Station
Air
Glasgow Airport
Situation

The property is located on the western side of Cowgate, the town's principal retailing thoroughfare, at its junction with Kerr Street. The Regent Centre is less than 100m away housing occupiers including Tesco Metro, Boots the Chemist, Poundland and Superdrug. Other nearby occupiers include JD Wetherspoon and branches of TSB, RBS and Clydesdale banks. Barleybank car park is close to the property, providing car parking for over 90 cars.

Tenure

Heritable. (Scottish Equivalent of Freehold)

Location
Miles
9 miles west of Cumbernauld, 10 miles north-east of Glasgow City Centre
Roads
A803, A806, M8 and M80
Rail
Lenzie Railway Station
Air
Glasgow Airport
Situation

The property is located on the western side of Cowgate, the town's principal retailing thoroughfare, at its junction with Kerr Street. The Regent Centre is less than 100m away housing occupiers including Tesco Metro, Boots the Chemist, Poundland and Superdrug. Other nearby occupiers include JD Wetherspoon and branches of TSB, RBS and Clydesdale banks. Barleybank car park is close to the property, providing car parking for over 90 cars.

Tenure

Heritable. (Scottish Equivalent of Freehold)

Description

The property comprises a ground floor banking hall, with office accommodation on the first floor.

VAT

VAT is not applicable to this lot.

Note

The tenant is only able to assign the lease to the Government, a Local or Public Authority, or a company which has had a Dun & Bradstreet rating of 5A1 or better for the three years preceding the date of any proposed assignment or (where the original tenant is the assignor only) to a group company of the original tenant and if the lease is assigned to a group company of the original tenant then no further assignment is allowed. The landlord can require a guarantee in standard Scottish PSG terms if consenting to an assignation to anyone other than the foregoing.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a ground floor banking hall, with office accommodation on the first floor.

VAT

VAT is not applicable to this lot.

Note

The tenant is only able to assign the lease to the Government, a Local or Public Authority, or a company which has had a Dun & Bradstreet rating of 5A1 or better for the three years preceding the date of any proposed assignment or (where the original tenant is the assignor only) to a group company of the original tenant and if the lease is assigned to a group company of the original tenant then no further assignment is allowed. The landlord can require a guarantee in standard Scottish PSG terms if consenting to an assignation to anyone other than the foregoing.

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 Reviews
Ground
First
Banking Hall/Ancillary
Offices
204.94 sq m
165.65 sq m
(2,206 sq ft)
(1,783 sq ft)
BANK OF
SCOTLAND
PLC (1)

15 years from
29/12/2016 until
28/12/2031 on a full
repairing and insuring
lease
£40,000
29/12/2021 and
29/12/2026
Totals  
370.59 sq m
(3,989 sq ft)
    £40,000
 

(1) Bank of Scotland was founded in 1695 and is Scotland's oldest bank. In 2009, it was acquired by Lloyds TSB, with the new entity named as Lloyds Banking Group. The acquisition created the largest retail bank in the UK. For the year ending 31st December 2015, Bank of Scotland Plc reported pre-tax profits of £2,653,000,000 and a total net worth of £14,692,000,000 (Sources: www.bankofscotland.co.uk and Experian Group 01/03/2017).

Property Documents

  • Catalogue Page
    Updated Date
    31.10.19
    File Size
    483 KB
    View PDF
  • Site Plan
    Updated Date
    31.10.19
    File Size
    1 MB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Mhairi ArchibaldMhairi Archibald +44 (0)7718 899 341 Mhairi.archibald@acuitus.co.uk
Seller's Solicitors
Leslie Wolfson & Co. Solicitors 19 Waterloo Street
Glasgow
G2 6BQ
Andrew McCowan 0141 226 4499amcc@lesliewolfson.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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