Heritable Bank Investment
Heritable Bank Investment
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.
Heritable.
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.
Heritable.
The property comprises a ground floor banking hall with basement office and ancillary accommodation which forms part of a larger three storey building.
VAT is not applicable to this lot.
Six Week Completion
The EPC will be available to view online in the solicitor’s legal pack.
The property comprises a ground floor banking hall with basement office and ancillary accommodation which forms part of a larger three storey building.
VAT is not applicable to this lot.
Six Week Completion
The EPC will be available to view online in the solicitor’s legal pack.
| 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.
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