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
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
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).
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.