For the Seller's Legal Pack, please click the Property Documents tab below
Lot 63
Auction 8th December 2016
Rent
Status Sold
Price £145,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On Behalf of a Major Fund Manager
Property Information
Location
Miles
11 miles south east of Glasgow
Roads
A724, A725, M74
Rail
Hamilton West Rail (23 mins to Glasgow Central)
Air
Glasgow International Airport
Situation
Hamilton is a historic town some 11 miles south east of Glasgow. The property occupies a prominent pitch within the Burnbank district to the north west of the town centre, just off Burnbank Road (A724). Nearby occupiers include Cooperative Foodstore and Lloyds Pharmacy.
Tenure
Long Leasehold. Held from South Lanarkshire Council for a term of 125 years expiring 28/11/2098 at a current rent of £5,300 p.a. with the next review on 28/05/2025 and 10 yearly thereafter. No increase was implemented at the 2005 and 2015 review dates.
Location
Miles
11 miles south east of Glasgow
Roads
A724, A725, M74
Rail
Hamilton West Rail (23 mins to Glasgow Central)
Air
Glasgow International Airport
Situation
Hamilton is a historic town some 11 miles south east of Glasgow. The property occupies a prominent pitch within the Burnbank district to the north west of the town centre, just off Burnbank Road (A724). Nearby occupiers include Cooperative Foodstore and Lloyds Pharmacy.
Tenure
Long Leasehold. Held from South Lanarkshire Council for a term of 125 years expiring 28/11/2098 at a current rent of £5,300 p.a. with the next review on 28/05/2025 and 10 yearly thereafter. No increase was implemented at the 2005 and 2015 review dates.
Description
The property comprises a prominent detached property.
VAT
VAT is not 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 property comprises a prominent detached property.
VAT
VAT is not 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
Betting Office
179.21 sq m
(1,929 sq ft)
LADBROKES BETTING & GAMING LIMITED
Approx 20 years 5 months from 07/04/2006 (2)
£20,000
28/08/2021 (27/08/2026)
Totals
179.21 sq m
(1,929 sq ft)
£20,000
(1) For the year ending 31st December 2015, Ladbrokes Betting & Gaming Limited reported a turnover of £830,679,000, pre-tax profits of £49,866,000 and a total net worth of £1,191,903,000 (Source: Experian Group 09/11/2016). (2) For the purpose of clarification the current lease is for a term of 15 years until 6th April 2021. The lease has been extended to expire on 27th August 2026 with a tenant option to determine on 28th August 2021, subject to 6 months’ notice.