14 Bank Street Airdrie Lanarkshire ML6 6AF

14 Bank Street
Airdrie
Lanarkshire
ML6 6AF

Heritable Retail Investment

Prominent retail unit let to TCCT Retail Ltd on a new 5 year lease renewal
On-street car parking outside the property
Nearby occupiers include Boots the Chemist, Clydesdale Bank and Semi-Chem
New five year lease and rebased rent

Lot
111
Auction
18th October 2018
Rent
£11,000 per Annum Exclusive
Status
Sold
Price
£92,500
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of a Major Fund Manager

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Heritable Retail Investment

Prominent retail unit let to TCCT Retail Ltd on a new 5 year lease renewal
On-street car parking outside the property
Nearby occupiers include Boots the Chemist, Clydesdale Bank and Semi-Chem
New five year lease and rebased rent

Lot 111
Auction 18th October 2018
Rent £11,000 per Annum Exclusive
Status Sold
Price £92,500
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 Railway Station; (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 position at the junction of the busy Bank Street and Anderson Street, in the heart of Airdrie town centre. Nearby occupiers include The Post Office, JD Wetherspoon and Clydesdale Bank.

Tenure

Heritable. (Scottish equivalent of English Freehold).

Location

Miles: 10 miles east of Glasgow; 30 miles west of Edinburgh
Roads: A8, A73, A89, M8
Rail: Airdrie Railway Station; (23 minutes to Glasgow Queen Street)
Air: Glasgow Airport

Situation

Tenure

Heritable. (Scottish equivalent of English Freehold).

Description

The property comprises a ground floor shop unit which forms part of a larger tenement building (the upper floors are in separate ownership).

VAT

VAT is not applicable to this lot.

Viewings

Please contact Mhairi Jarvis 0131 552 5191.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a ground floor shop unit which forms part of a larger tenement building (the upper floors are in separate ownership).

VAT

VAT is not applicable to this lot.

Viewings

Please contact Mhairi Jarvis 0131 552 5191.

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	Retail and Ancillary	67.54 sq m	(727 sq ft)	TCCT RETAIL LIMITED t/a Thomas Cook (1)	5 years from 27/10/2018 on a full repairing and insuring lease (2) (3)	£11,000	27/10/2023
Total		67.54 sq m	(727 sq ft)			£11,000

(1) The Thomas Cook Group began their travel company in 1841. Today, the company has approximately 22,000 employees and operates from 16 countries (Source: www.thomascookgroup.com 19/09/2018).
(2) The lease provides a tenant break option on 26/10/2021.
(3) The tenant is currently holding over on a previous lease at £15,000. A new contract has been entered into as per the above terms.
The new lease provides a rent-free period from 27/10/2018 expiring 26/01/2019. The seller has agreed to adjust the completion monies so that the unit effectively produces £11,000 p.a. from completion of the sale.