Glenearn Road Retail & Industrial Park
Glenearn Road
Perth
Perthshire
PH2 0NJ

Heritable Retail/Trade Counter/Industrial Investment

  • Prominent retail/trade counter/industrial park on main arterial road
  • Bathstore, Glenearn Flooring and D + G Autocare trading at the property for 10-20 years
  • Approximately 26,391 sq ft (GIA) with parking
  • Asset management potential
  • Nearby occupiers include Tesco Extra, MKM Building Supplies, Howdens Joinery, Jewson and Skoda
  • Prominent position less than one mile south of Perth City Centre
  • Lot
    47
  • Auction
    24/May/2018
  • Rent
    £161,333 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price*
     
  • Sector
    Trade Counter
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • Glenearn Road Retail & Industrial Park<br>Glenearn Road<br>Perth<br>Perthshire<br>PH2 0NJ
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Property Information

Location
Miles
19 miles west of Dundee, 31 miles north-west of Edinburgh
Roads
A85, A90, M90
Rail
Perth Railway Station
Air
Edinburgh Airport
Situation

Perth is one of the fastest growing cities in Scotland and benefits from excellent road and rail communications. The property is situated on the eastern side of Glenearn Road, one of Perth’s main arterial roads, less than one mile south of Perth City Centre. Nearby occupiers include Tesco Extra, MKM Building Supplies, Howdens Joinery, Jewson
and Skoda.

Tenure

Heritable. (Scottish equivalent of English Freehold).

Description

The property comprises three trade counter units, a tyre and exhaust centre and a gym, arranged on the ground floor only, with a car wash to the rear. The property benefits from 22 marked spaces, with further parking for about 10 cars.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

Tenancy & Accomodation

UnitUseGross Internal Floor Areas
(Approx)
TenantTermRent p.a.xReview/(Reversion)
ARetail
989.48 sq m
(10,651 sq ft)
GLENEARN FLOORING
OF PERTH LIMITED
(1)
10 years from
14/06/2016 (2)
£64,00014/06/2021
(13/06/2026)
BRetail
322.55 sq m
(3,472 sq ft)
BATHSTORE.COM
LIMITED (3)
25 years from
20/03/2000 (3)
£46,00030/03/2020
(19/03/2025)
B1Trade Counter/
Industrial
421.58 sq m
(4,538 sq ft)
VACANT---
CTrade Counter/
Industrial
392.41 sq m
(4,224 sq ft)
D + G AUTOCARE
LIMITED (4)
10 years from
01/03/2015
£25,000 rising to £28,000
in March 2020
(28/02/2025)
DStorage/Ancillary
82.68 sq m
(890 sq ft)
EVEN KEEL CONTRACTS LIMITED5 years from 26/10/2017
(5)
£4,000(25/10/2022)
EGym
243.03 sq m
(2,616 sq ft)
EVEN KEEL LIMITED
t/a Curves (6)
5 years from 16/10/2017£9,000(15/10/2022)
YardCar wash
-
(-)
SOAPER STARS (PERTH)
LIMITED (7)
with a guarantee from
Perthshire Glazing Co
Limited
5 years from 05/01/2015£13,333.33
rising to
£14,583.33 in
January 2019
(04/01/2020)
Total
2,451.72 sq m
(26,391 sq ft)
£161,333.33

(1) Founded in 1995, Glenearn Flooring is East Scotland’s largest independent flooring store (Source: www.glenearn.co.uk 18/04/2018). Glenearn Flooring have occupied this unit for over 20 years and have recently refitted.
(2) The lease is subject to a tenant option to determine on 14th June 2021. If the tenant does not exercise the break option, then a 3 month rent free period will be granted from 14/06/2021.
(3) Bathstore are the largest specialist bathroom retailer in the UK, operating from 164 stores nationwide (Source: www.bathstore.com 18/04/2018). This unit has been recently refitted. Whilst the property was originally let for a term of 10 years from 20th March 2000, the tenant extended their lease in 2011 and in 2017. The tenant has therefore been in occupation on this site for 18 years.
(4) D + G Autocare specialise in MOTs, tyres, exhausts and brakes and trades from 15 garages across central Scotland (Source: www.dandgautocare.co.uk 18/04/2018). The tenant has been in occupation on this site for 10 years having moved from a smaller site within the park.
(5) The lease is subject to a tenant option to determine on 26/04/2020.
(6) Curves operate franchises in countries including UK, Spain, France, Belgium, Ireland and Switzerland. They provide more than 4,500 fitness clubs and are present in 76 countries (Source: www.curves.com 18/04/2018).
(7) Soaper Stars trade from another site in Perth. A rent deposit of £3,000 is held by the Vendor and the lease is subject to a guarantor.

Property Documents

  • Catalogue Page
    Updated Date
    02.05.18
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    02.05.18
    File Size
    1 MB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Mhairi JarvisMhairi Jarvis +44 (0)131 552 5191 +44 (0)7718 899 341mhairi.jarvis@acuitus.co.uk
Seller's Solicitors
Addleshaw Goddard LLP Exchange Tower, 19 Canning Street
Edinburgh
EH3 8EH
Joanne Moynan 0131 222 9457joanne.moynan@addleshawgoddard.com

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