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 4th April 2019
Rent
Status Withdrawn Prior
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
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).
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.
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).