21 West Blackhall Street
Greenock
Inverclyde
PA15 1UA

Heritable Retail Investment

  • Let to Bonmarché Limited on a renewed lease
  • Rent re-based from £65,000 p.a.x to £38,000 p.a.x
  • Tenant in occupation for at least 15 years
  • Feb 2018 Bonmarché reported turnover £190m, pretax profit £5.7m and net worth £30m
  • Nearby occupiers include Greggs, Yorkshire Building Society and Iceland
  • Lot
    51
  • Auction
    28/Mar/2018
  • Rent
    £38,000 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price*
     
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Property Update
  • 21 West Blackhall Street<br>Greenock<br>Inverclyde<br>PA15 1UA
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Property Information

Location
Miles
2 miles west of Port Glasgow, 22 miles west of Glasgow
Roads
A8, A78
Rail
Greenock Central, Cartsdyke and Whinhill Railway, Stations (31 minutes to Glasgow Central)
Air
Glasgow International Airport
Situation

The property is situated in the prime shopping pitch within Greenock town centre, a short distance from the Oakmall Shopping Centre. Greenock West and Greenock Central railway stations are close by, together with a number of bus routes serving the area. Nearby occupiers include Iceland, Subway, Brighthouse, Betfred, Nationwide, Cancer Research UK and The Money Shop.

Tenure

Heritable.

Description

The property comprises a modern self-contained retail unit arranged over ground and first floors. The ground floor is predominantly used for sales with the first floor used for storage and staff areas.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

Tenancy & Accomodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReversion
Ground
First
Retail
Ancillary
279.35 sq m
122.63 sq m
(3,007 sq ft)
(1,320 sq ft)
BONMARCHE
LIMITED (1)
20 years from
28/4/2003 on a full
repairing and insuring
lease (2)
£38,00027/4/2023
Total
401.98 sq m
(4,327 sq ft)
  £38,000 

(1) For the year ending 1st April 2017, Bonmarché Limited reported a turnover of £190,068,000, pre-tax profits of £5,719,000 and a net worth of £30,077,000 (Source: Experian Group 20/02/2018).
(2) The original 15 year lease from 28th April 2003 to 27th April 2018 has been extended by virtue of a minute of variation to the lease by 5 years with the option to determine the lease on 28th April 2021. The rent has been re-based from £65,000 p.a.x to £38,000 p.a.x. The minute of variation provides for a rent free period from 29th April 2018 to 28th July 2018 and from 29th April 2021 to 28th July 2021 in the event that the tenant does not exercise the tenant option to determine the lease on 28/4/2021.

Property Documents

  • Site Plan
    Updated Date
    06.03.18
    File Size
    3 MB
    View PDF
  • Catalogue Page
    Updated Date
    06.03.18
    File Size
    927 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Billy StruthBilly Struth +44(0)20 7034 4854billy.struth@acuitus.co.uk
Seller's Solicitors
Grant & McKay Solicitors 9 Donaldson Cres
Kirkintilloch
Glasgow
G66
John Carson 0141 749 0164johncarson@grantandmckay.com

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