Nearby occupiers include Boots the Chemist, Burton and Betfred
Currently producing £98,000 p.a.x (gross), £84,110 p.a.x (net)
Lot 85
Auction 11th July 2018
Rent
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On Behalf of a Major Fund Manager
Property Information
Location
Miles
10 miles east of Glasgow
30 miles west of Edinburgh
Roads
A8, A73, A89, M8
Rail
Airdrie Rail (23 minutes to Glasgow Queen Street)
Air
Glasgow Airport
Situation
Airdrie is located approximately 10 miles east of Glasgow and 30 miles west of Edinburgh, with access provided by the M8 Motorway. The property is situated in a prominent corner position at the junction of the busy Bank Street and Anderson Street, in the heart of Airdrie town centre. Nearby occupiers include Boots the Chemist, Burton and Betfred.
Tenure
Long Leasehold. Held from North Lanarkshire Council for a term of 125 years expiring 9th October 2113 at a current rent of £13,890 per annum, with upward only reviews every five years to 10% of the gross income.
Location
Miles
10 miles east of Glasgow
30 miles west of Edinburgh
Roads
A8, A73, A89, M8
Rail
Airdrie Rail (23 minutes to Glasgow Queen Street)
Air
Glasgow Airport
Situation
Airdrie is located approximately 10 miles east of Glasgow and 30 miles west of Edinburgh, with access provided by the M8 Motorway. The property is situated in a prominent corner position at the junction of the busy Bank Street and Anderson Street, in the heart of Airdrie town centre. Nearby occupiers include Boots the Chemist, Burton and Betfred.
Tenure
Long Leasehold. Held from North Lanarkshire Council for a term of 125 years expiring 9th October 2113 at a current rent of £13,890 per annum, with upward only reviews every five years to 10% of the gross income.
Description
The property comprises an unbroken parade of six retail units with some benefiting from basement and first floor ancillary accommodation.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises an unbroken parade of six retail units with some benefiting from basement and first floor ancillary accommodation.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x. (gross)
Review/ (Reversion)
1a
Ground
Retail/Ancillary
47.47 sq m
(511 sq ft
DL DIRECT LIMITED
3 years from 12/01/2018
£9,000
(11/01/2021)
1b
Ground Basement First
Retail/Ancillary Ancillary Ancillary
103.19 sq m 50.60 sq m 190.62 sq m
(1,111 sq ft) (545 sq ft) (2,051 sq ft)
SCOTTISH MIDLAND CO-OPERATIVE SOCIETY LIMITED (1)
Approx 25 years from 01/10/1990
£9,600
(Rolling monthly)
2
Ground Basement
Retail/Ancillary Ancillary
69.53 sq m 9.74 sq m
(748 sq ft) (105 sq ft)
BRIAN MICHIE OPTICIANS LIMITED
30 years from 27/07/1993 (2)
£20,000
30/11/2018 (30/11/2023)
3
Ground
Basement First
Banking Hall/Ancillary
Ancillary Ancillary
172.81 sq m 16.91 sq m 149.01 sq m
(1,860 sq ft)
(182 sq ft) (1,604 sq ft)
CLYDESDALE BANK PLC (3)
10 years from 22/12/2016
£33,900
22/12/2021 (21/12/2026)
1 Anderson Street
Ground
Retail/Ancillary
61.80 sq m
(665 sq ft)
ADCENTIV MEDIA RETAIL LIMITED
5 years from 02/02/2015
£10,500
(01/02/2020)
3 Anderson Street
Ground
Retail/Ancillary
116.41 sq m
(1,253 sq ft)
CHUNKY MONKEY’S COFFEE LTD
3 years from 31/03/2017
£15,000
(30/03/2020)
Total
988.09 sq m
(10,635 sq ft)
£98,000
(1) For the year ending 28th January 2017, Scottish Midland Co-operative Society Limited reported a turnover of £376,169,000, pre-tax profits of £7,623,000 and a total net worth of £69,157,000 (Source: Experian Group 05/06/2018). (2) The lease provides an option to determine on 30/11/2018 (subject to 3 months’ notice). (3) Established in 1838, Clydesdale is one of Scotland's largest banks, with over 70 retail branches (Source: www.cybg.com/ 05/06/2018). The lease provides an option to determine on 22/12/2021.