Benefits from roller shutter doors, car parking and use of a secure yard
Totalling approximately 29,279 sq ft
Situated on an established industrial estate
Recently undergone a substantial refurbishment programme
Lot 49
Auction 13th July 2017
Rent £65,000 per Annum Exclusive
Status Sold
Price £640,000
Sector Industrial, Warehouse
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
6 miles south-west of Glasgow City Centre
Roads
A727, M77 (Junction 3)
Rail
Thornliebank Railway Station
Air
Glasgow International Airport
Situation
Thornliebank Industrial Estate is a popular and established industrial location six miles from Glasgow City Centre and is strategically located at junction 3 of the M77, which provides access to Glasgow to the north and Kilmarnock to the south. The property is prominently situated within the heart of the estate on the north side of Spiersbridge Terrace.
Tenure
Heritable. (Scottish Equivalent of English Freehold).
Location
Miles
6 miles south-west of Glasgow City Centre
Roads
A727, M77 (Junction 3)
Rail
Thornliebank Railway Station
Air
Glasgow International Airport
Situation
Thornliebank Industrial Estate is a popular and established industrial location six miles from Glasgow City Centre and is strategically located at junction 3 of the M77, which provides access to Glasgow to the north and Kilmarnock to the south. The property is prominently situated within the heart of the estate on the north side of Spiersbridge Terrace.
Tenure
Heritable. (Scottish Equivalent of English Freehold).
Description
The property comprises a self-contained industrial unit which forms part of a larger terrace and provides ground floor warehouse and office accommodation, with additional ancillary accommodation on the first floor. The property benefits from an eaves height of 3 metres, roller shutter doors, car parking and use of a secure palisade fenced yard. The landlord has recently completed a substantial refurbishment programme.
VAT
VAT is 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 self-contained industrial unit which forms part of a larger terrace and provides ground floor warehouse and office accommodation, with additional ancillary accommodation on the first floor. The property benefits from an eaves height of 3 metres, roller shutter doors, car parking and use of a secure palisade fenced yard. The landlord has recently completed a substantial refurbishment programme.
VAT
VAT is 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 First
Warehouse/Office Ancillary
2,463.19 sq m 256.84 sq m
(26,514 sq ft) (2,765 sq ft)
PAGAZZI LIGHTING (SERVICES) LIMITED with guarantee (1)
Approx 101/2 years from 19/04/2017 (2)
£65,000 (3) (4)
19/04/2022 (18/12/2027)
Total
2,720.03 sq m
(29,279 sq ft)
£65,000
(1) Pagazzi Lighting was founded in 1980, opening their first store in West Street, Glasgow and quickly became established as the city's premier specialist lighting shop. Pagazzi Lighting now operate around 20 premises throughout the UK (Source: www.pagazzi.com). (2) The lease provides for a tenant option to determine on 19th December 2022, subject to a £75,000 break penalty. (3) Under the terms of the lease the rent is £50,000 p.a.x. The tenant pays an additional fit out rent of £15,000 p.a.x. therefore the current total rent for the property is £65,000 p.a.x. (4) The tenant is currently benefitting from a rent free period to expire on 18th December 2017.
