24 Stewarton Street Wishaw Lanarkshire ML2 8AN

24 Stewarton Street
Wishaw
Lanarkshire
ML2 8AN

Heritable Betting Office Investment

Let to Tote Bookmakers Limited t/a Betfred until 2022 (no breaks)
Tenant did not exercise their January 2017 break option
Prominent town centre location on principal retailing thoroughfare
VAT-free Investment

Lot
80
Auction
19th October 2017
Rent
£21,000 per Annum Exclusive
Status
Sold
Price
£195,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Heritable Betting Office Investment

Let to Tote Bookmakers Limited t/a Betfred until 2022 (no breaks)
Tenant did not exercise their January 2017 break option
Prominent town centre location on principal retailing thoroughfare
VAT-free Investment

Lot 80
Auction 19th October 2017
Rent £21,000 per Annum Exclusive
Status Sold
Price £195,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 18 miles south-east of Glasgow
Roads: A71, A73, M8, M74
Rail: Wishaw Railway Station
Air: Glasgow Airport

Situation

The property is situated in a prominent position in the heart of the town centre on the south side of Stewarton Street, a continuation of Main Street, which together comprise Wishaw's principal retailing thoroughfares. Nearby occupiers include Boots Opticians, Pizza Hut, Coral, William Hill and Ladbrokes, along with branches of TSB, Santander and Clydesdale Banks.

Tenure

Heritable. (2)

Location

Miles: 18 miles south-east of Glasgow
Roads: A71, A73, M8, M74
Rail: Wishaw Railway Station
Air: Glasgow Airport

Situation

Tenure

Heritable. (2)

Description

The property comprises a ground floor retail unit which forms part of a larger building.

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 which forms part of a larger building.

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	Reversion
Ground	Betting Office/ Ancillary	124.02 sq m	(1,335 sq ft)	TOTE BOOKMAKERS LIMITED (1) t/a Betfred	Approx 11 1/2 years from 21/06/2010 on a full repairing and insuring lease	£21,000	11/01/2022
Total		124.02 sq m	(1,335 sq ft)			£21,000

(1) Founded in 1967, Betfred is one of the UK's largest bookmakers, employing over 10,000 staff across 1,380 licensed betting offices (Source: www.betfredcorporate.com)
(2) The property had been held on a long lease, however, the tenant’s interest has converted to outright ownership without payment of compensation to the landlord under Section 4 of the Long Leases (Scotland) Act, as the lease is a qualifying lease in terms of Section 1 of the Act.