17/23 Bank Street & 1-3 Anderson Street Airdrie North Lanarkshire ML6 6AF

17/23 Bank Street & 1-3 Anderson Street
Airdrie
North Lanarkshire
ML6 6AF

Well Located Retail Investment

  • Unbroken parade of six retail units
  • Approximately 12,084 sq ft of commercial area
  • Prominent town centre location
  • 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
    £98,000 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price
     
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On Behalf of a Major Fund Manager
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Well Located Retail Investment

  • Unbroken parade of six retail units
  • Approximately 12,084 sq ft of commercial area
  • Prominent town centre location
  • 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  • Status Withdrawn Post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.

Property Documents

  • Catalogue Page
    Updated Date
    19.06.18
    File Size
    412 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Mhairi ArchibaldMhairi Archibald +44 (0)7718 899 341 Mhairi.archibald@acuitus.co.uk
Seller's Solicitors
DWF LLP No. 2 Lochrin Square, 96 Fountainbridge
Edinburgh
EH3 9QA
Iain Mclean 0131 474 2320iain.mclean@dwf.law

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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