138 Hydepark Street Glasgow Lanarkshire G3 8BW

138 Hydepark Street
Glasgow
Lanarkshire
G3 8BW

Heritable Office Investment

  • Tenants include Hertz (UK) Limited and The Association of Chartered Certified Accountants (ACCA)
  • Attractive building on the north bank of the River Clyde and opposite Central Quay
  • Close to the city centre and easily accessed from Junctions 18 and 19 of the M8 Motorway
  • Nearby occupiers include NHS and Media Scotland
  • Total floor area of 2,185 sq m (23,524 sq ft)
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    24
  • Auction
    9th July 2015
  • Rent
    £100,978 per Annum Exclusive
  • Status
    Sold
  • Price
    £855,000
  • Sector
    Office
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of Joint Administrators
Important Update
  • Expand
  • Photos
  • Map

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

Heritable Office Investment

  • Tenants include Hertz (UK) Limited and The Association of Chartered Certified Accountants (ACCA)
  • Attractive building on the north bank of the River Clyde and opposite Central Quay
  • Close to the city centre and easily accessed from Junctions 18 and 19 of the M8 Motorway
  • Nearby occupiers include NHS and Media Scotland
  • Total floor area of 2,185 sq m (23,524 sq ft)
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 24
  • Auction 9th July 2015
  • Rent
  • Status Sold
  • Price £855,000
  • Sector
    Office
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of Joint Administrators

Property Information

Location
Miles
47 miles west of Edinburgh
Roads
M8
Rail
Glasgow Queens Street Station,
Glasgow Central Station, Anderston Station
Air
Glasgow International Airport (9 miles west)
Situation

Hydepark Street is located on the north bank of the River Clyde on the edge of Glasgow city centre and is within a quarter of a mile of Junction 18 and 19 of the M8 Motorway. The property is located close to the SSE Hydro, a 13,000 capacity arena venue opened in 2013. Other nearby occupiers include NHS and Media Scotland.

Tenure

Heritable. (Scottish Equivalent of English Freehold).

Location
Miles
47 miles west of Edinburgh
Roads
M8
Rail
Glasgow Queens Street Station,
Glasgow Central Station, Anderston Station
Air
Glasgow International Airport (9 miles west)
Situation

Hydepark Street is located on the north bank of the River Clyde on the edge of Glasgow city centre and is within a quarter of a mile of Junction 18 and 19 of the M8 Motorway. The property is located close to the SSE Hydro, a 13,000 capacity arena venue opened in 2013. Other nearby occupiers include NHS and Media Scotland.

Tenure

Heritable. (Scottish Equivalent of English Freehold).

Description

The property comprises a modern four storey office building with a car hire reception area at ground floor and a separate entrance for the three levels of office accommodation above. The property benefits from a car park area to the rear, accessed from the northern end of the site.

Planning
Historic planning permission was granted (now lapsed) for 92 residential units with ground floor commercial accommodation. Please refer to Glasgow City Council Planning (Ref: 04/02909/DC).

Note
This property is being marketed for sale on behalf of Joint Administrators and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Administrators to the best of their knowledge but the purchaser must rely solely on their own enquiries. The Joint Administrators are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

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 modern four storey office building with a car hire reception area at ground floor and a separate entrance for the three levels of office accommodation above. The property benefits from a car park area to the rear, accessed from the northern end of the site.

Planning
Historic planning permission was granted (now lapsed) for 92 residential units with ground floor commercial accommodation. Please refer to Glasgow City Council Planning (Ref: 04/02909/DC).

Note
This property is being marketed for sale on behalf of Joint Administrators and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Administrators to the best of their knowledge but the purchaser must rely solely on their own enquiries. The Joint Administrators are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

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 Reversion
Ground Floor Reception and Garage
837.61 sq m
(9,016 sq ft)
HERTZ (UK) LIMITED (1) 15 years from 18/06/2001 £47,500 18/06/2016 (2)
First Floor Office
449.28 sq m
(4,836 sq ft)
VACANT POSSESSION      
Second Floor Office
449.28 sq m
(4,836 sq ft)
VACANT POSSESSION      
Third Floor Office
449.28 sq m
(4,836 sq ft)
THE ASSOCIATION OF CHARTERED CERTIFIED ACCOUNTANTS (ACCA) 5 years from 04/04/2011 £53,478 03/04/2016 (3)
Totals  
2,185.45 sq m
(23,524 sq ft)
    £100,978

(1) For the year ending 21/02/2014, Hertz (UK) Limited reported a turnover of £157,779,000 and a total net worth of £36,073,000. (Source: www.riskdisk.com 10/06/2015)
(2)A lease extension has been agreed with Hertz (UK) Limited for 5 years from the existing lease expiry at an annual rent of £48,000 p.a. Further detail can be obtained from the auctioneers.
(3) The lease to ACCA provided a break option in April 2015 which was not exercised.

Property Documents

  • Site Plan
    Updated Date
    16.06.15
    File Size
    38 KB
    View PDF
  • Catalogue Page
    Updated Date
    16.06.15
    File Size
    485 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Mhairi ArchibaldMhairi Archibald +44 (0)7718 899 341 Mhairi.archibald@acuitus.co.uk
Seller's Solicitors
Pinsent Masons LLP Princes Exchange, 1 Earl Grey Street
Edinburgh
Stuart Orr 0131 777 7090stuart.orr@pinsentmasons.com

Useful Links

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

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