Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
10 miles west of Glasgow
Roads
M8, A761
Rail
Paisley Gilmour Street
Air
Glasgow International Airport
Situation
The property is situated within Paisley town centre in a prominent corner location on Causeyside Street at its junction with Orchard Street. The property lies just to the south of The Paisley Shopping Centre, which houses retailers including Marks & Spencer, Boots, Superdrug, McDonald’s and O2. Other nearby occupiers include Farmfoods, Cancer Research, Mothercare and Early Learning Centre.
Tenure
Heritable. (Scottish Equivalent of Freehold)
Location
Miles
10 miles west of Glasgow
Roads
M8, A761
Rail
Paisley Gilmour Street
Air
Glasgow International Airport
Situation
The property is situated within Paisley town centre in a prominent corner location on Causeyside Street at its junction with Orchard Street. The property lies just to the south of The Paisley Shopping Centre, which houses retailers including Marks & Spencer, Boots, Superdrug, McDonald’s and O2. Other nearby occupiers include Farmfoods, Cancer Research, Mothercare and Early Learning Centre.
Tenure
Heritable. (Scottish Equivalent of Freehold)
Description
The property comprises a ground floor retail unit with a highly visible entrance on the corner of the building.
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 not 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 retail unit with a highly visible entrance on the corner of the building.
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 not 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
Ground
Retail
108.49 sq m
(1.168 sq ft)
WILLIAM HILL ORGANIZATION LIMITED (1)
35 years from 21/01/1991 until 20/01/2026 on full repairing and insuring terms (2)
£25,650 (3)
20/01/2021
Totals
108.49 sq m
(1.168 sq ft)
£25,650
1) William Hill began the business in 1934 as a postal and telephone betting service. The first betting shop opened in 1961 and William Hill is now the largest bookmaker in the UK, with a network of over 2,360 licenced betting shops across the UK. The business employs 12,500 people in the UK (source: www.williamhillplc.com 16/09/2015). (2) The original lease was for a term of 25 years from 21st January 1991 until 20th January 2016. By Minute of Variation registered 12th June 2015, the Lease was amended to the effect that the period of the Lease was extended to 20th January 2026, subject to a tenant only option to determine on 20th January 2021. (3) As per the terms of the Minute of Variation referred to above, the rent will be reduced to £20,500 pa from 2nd February 2016 until 1st February 2021. In the event that the tenant does not exercise the 2021 break option, the rent shall then be subject to review on open market value terms (upwards only).