Let to TSB Bank Plc until 2024 (subject to option)
Located opposite The Springburn Shopping Centre
Nearby occupiers include Betfred, Greggs, B&M Bargains and Card Factory
Lot 77
Auction 19th October 2017
Rent £17,500 per Annum Exclusive
Status Sold Prior
Price
Sector Bank
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
2 miles north east of Glasgow City Centre, Roads: M8
Rail
Glasgow Queens Street Station,
Glasgow Central Station
Air
Glasgow Airport
Situation
Springburn is a busy suburb located some 2 miles north of Glasgow City Centre. The property is prominently situated opposite the Springburn Shopping Centre on the main retailing pitch. Nearby occupiers include Betfred, Greggs, B&M Bargains and Card Factory.
Tenure
Heritable.
Location
Miles
2 miles north east of Glasgow City Centre, Roads: M8
Rail
Glasgow Queens Street Station,
Glasgow Central Station
Air
Glasgow Airport
Situation
Springburn is a busy suburb located some 2 miles north of Glasgow City Centre. The property is prominently situated opposite the Springburn Shopping Centre on the main retailing pitch. Nearby occupiers include Betfred, Greggs, B&M Bargains and Card Factory.
Tenure
Heritable.
Description
The property comprises a ground floor banking hall with basement office and ancillary accommodation which forms part of a larger three storey building.
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 ground floor banking hall with basement office and ancillary accommodation which forms part of a larger three storey building.
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
Ground Basement
Banking Hall Office/Ancillary
143.11 sq m 49.98 sq m
(1,540 sq ft) (538 sq ft)
TSB BANK PLC (1)
10 years from 25/12/2014 until 24/12/2024 on a full repairing and insuring lease (2)
£17,500
25/12/2019
Total
193.09 sq m
(2,078 sq ft)
£17,500
(1) For the year ending 31st December 2016, TSB Bank Plc reported pre-tax profits of £182,300,000 and a total net worth of £1,879,200,000 (Source: Experian Group 14/09/2017). TSB has a strong and stable customer base of 4.5 million retail customers and comprehensive product and distribution capability, including 550 branches, making it the seventh largest retail banking group in the UK by branch network (Source: www.tsb.co.uk 14/09/2017). 2) The lease provides a tenant option to determine on 25/12/2019. If the option is not exercised, the tenant will benefit from a three month rent free period.