43 Hamilton Way
Greenock
Renfrewshire
PA15 1RQ

Retail Investment let to Boots until 2072 (no breaks)

Let to Boots Properties Limited on an FRI lease until 2075 (56 years unexpired – NO BREAKS)
Located within popular Oak Mall Shopping Centre
Other occupiers in shopping centre include Primark, Wilko, Costa, JD Sports, Holland & Barrett and Greggs

Lot
29
Auction
04/Apr/2019
Rent
£199,000 per Annum Exclusive
Status
Available
Price*
£2,200,000 - £2,300,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of a Major Fund Manager

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Map

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

Property Information

Location

Miles: 2 miles west of Port Glasgow, 25 miles west of Glasgow
Roads: A8, A78, M8
Rail: Greenock Central, Cartsdyke and Whinhill Railway Stations (31 minutes to Glasgow Central)
Air: Glasgow International Airport

Situation

Greenock has a diverse economy, including construction and utilities, manufacturing, retailing and public sector. The town has a population in the region of 42,000 people and a primary catchment of approximately 100,000 people. The property forms part of the Oak Mall Shopping Centre, a fully enclosed 283,000 sq ft shopping centre which is located at the eastern end of West Blackhall Street, in the heart of Greenock town centre. Major tenants within the shopping centre include Primark, Wilko, Boots the Chemist, Costa and Holland & Barrett.

Tenure

Heritable. (Scottish equivalent of an English freehold).

Description

The property forms part of the Oak Mall Shopping Centre and comprises a ground floor retail unit with first and second 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

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground First Second	Retail Ancillary Ancillary	765.00 sq m 524.00 sq m 482.00 sq m	(8,234 sq ft) (5,640 sq ft) (5,188 sq ft)	BOOTS PROPERTIES LIMITED (1)	Approx 99 years 3 months from 02/02/1976 until 15/05/2075 on a full repairing and insuring lease	£199,000	15/05/2039 and 15/05/2060
Total		1,771.00 sq m	(19,062 sq ft)			£199,000

(1) For the year ending 31st August 2017, Boots Properties Limited reported a turnover of £28,900,000, pre-tax profits of £48,900,000 and a total net worth of £402,400,000 (Source: Experian Group 08/03/2019).