Lease expires in August 2023 (by way of recent lease extension) (2)
Nearby retailers in Motherwell Shopping Centre include Primark, Boots the Chemist, JD Sports, Wilko, Costa Coffee and Iceland Foods
0.3 miles from Motherwell Station and opposite Royal Mail Sorting Office and Army Reserve Centre
VAT-free investment
Lot 62
Auction 11th July 2019
Rent £7,100 per Annum Exclusive
Status Sold
Price £80,000
Sector High Street Retail
Auction Venue The Montcalm Hotel 2 Wallenberg Place London W1H 7TN
Property Information
Location
Miles
3 miles east of Hamilton
15 miles south-east of Glasgow
Roads
A723, M8, M74
Rail
Motherwell Station
Air
Glasgow Airport
Situation
Motherwell is located some 15 miles south-east of Glasgow, on the River Clyde. Motherwell benefits from excellent connections to Glasgow and the South via the M8 and M74. The property is located on the west side of Muir Street (A721), just a short walk to Motherwell Train Station with direct services to London Euston in just over four hours. Nearby retailers represented in Motherwell Shopping Centre include Primark, Boots the Chemist, JD Sports, Wilko, Costa Coffee and Iceland Foods.
Tenure
Heritable. (Scottish equivalent of English Freehold).
Location
Miles
3 miles east of Hamilton
15 miles south-east of Glasgow
Roads
A723, M8, M74
Rail
Motherwell Station
Air
Glasgow Airport
Situation
Motherwell is located some 15 miles south-east of Glasgow, on the River Clyde. Motherwell benefits from excellent connections to Glasgow and the South via the M8 and M74. The property is located on the west side of Muir Street (A721), just a short walk to Motherwell Train Station with direct services to London Euston in just over four hours. Nearby retailers represented in Motherwell Shopping Centre include Primark, Boots the Chemist, JD Sports, Wilko, Costa Coffee and Iceland Foods.
Tenure
Heritable. (Scottish equivalent of English Freehold).
Description
The property comprises a single storey detached building trading as a betting shop.
VAT
VAT is not applicable to this lot.
Note
The buyer will pay 2% + VAT of the purchase price towards the Vendor's costs, in addition to the cost of searches.
EPC
Available from the legal pack at acuitus.co.uk
Description
The property comprises a single storey detached building trading as a betting shop.
VAT
VAT is not applicable to this lot.
Note
The buyer will pay 2% + VAT of the purchase price towards the Vendor's costs, in addition to the cost of searches.
EPC
Available from the legal pack at acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Ground
Betting Shop
71.00 sq m
(765 sq ft)
WILLIAM HILL ORGANIZATION LIMITED (1)
30 years from 28/08/1993 until 27/08/2023 (2)
£7,100
Total
71.00 sq m
(765 sq ft)
£7,100
(1) William Hill was founded in 1934 and now employs over 15,500 people in 12 countries. William Hill is the UK's largest land-based bookmaker with 2,319 licensed betting shops in the UK. (2) The lease was extended in August 2018 for a term of 5 years with a tenant only option to determine on 27th August 2021. The rent prior to the lease extension was also £7,100 per annum.
