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
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)
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.
