2115 / 2119 Paisley Road West
Glasgow
G52 3JL

Heritable Retail Investment

  • Let to Boots UK Limited until 2025 (no breaks) (2)
  • New reversionary lease signed in 2019
  • Located within densely populated suburb
  • Nearby occupiers include Aldi, Greggs, Poundstretcher and RBS
  • Lot
    12
  • Auction
    11/Dec/2019
  • Rent
    £40,632 per Annum Exclusive
  • Status
    Available
  • Price*
    £400,000
  • Sector
    High Street Retail
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    London W1H 7TN
  • On behalf of Trustees
  • 2115 / 2119 Paisley Road West<br>Glasgow<br>G52 3JL
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  • Map

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

Property Information

Location
Miles
5 miles south-west of Glasgow
Roads
M8 (Junction 25), M77 (Junction 1)
Rail
Cardonald, Mosspark
Air
Glasgow Airport
Situation

The property is located in the densely populated Glasgow suburb of Cardonald, 5 miles south-west of the city centre. The property occupies a prominent corner position on Paisley Road West (A761), the main arterial route between Glasgow city centre and Paisley. Nearby occupiers include Aldi, Greggs, Poundstretcher and RBS.

Tenure

Heritable. (Scottish equivalent of English Freehold).

Description

The property comprises a ground floor, double fronted retail unit.

VAT

VAT is applicable to this lot.

EPC

Band G. Available in legal pack at acuitus.co.uk.

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.x
GroundRetail/Ancillary
182.65 sq m
(1,966 sq ft)
BOOTS UK
LIMITED (1)
20 years and 4 months from
22/03/2005 until 21/07/2025
on a full repairing and
insuring lease (2)
£40,632
Total
182.65 sq m
(1,966 sq ft)
  £40,632

(1) For the year ending 31st August 2018, Boots UK Limited reported a turnover of £6,790,000,000, pre-tax profits of £398,000,000 and a total net worth of £875,000,000 (Source: Experian Group 19/09/2019). Boots is the largest pharmacy health and beauty chain in the UK and as at 31st August 2018 had 2,485 stores across the UK (Source: www.boots-uk.com/about-boots-uk/about-boots/boots-in-numbers/ 20/09/2019).
(2) The current lease is for a term of 15 years and four months expiring 21/07/2020, however a 5 year reversionary lease has been signed from expiry of the current term until 21/07/2025 at a rebased rent of £33,250 p.a.x.
(3) For the purpose of clarification, the current passing rent is £40,031 p.a.x. The current lease provides a fixed rental increase to £40,632 p.a.x from 1st April 2020. The seller has agreed to adjust the completion monies so that the property will effectively produce £40,632 p.a.x from the completion of sale. At the commencement of the reversionary lease on 21/07/2020, the rent will rebase to £33,250 p.a.x and the tenant will benefit from a six month rent free period. The seller has agreed to adjust the completion monies so the sale will effectively produce £33,250 p.a.x. from the commencement of the reversionary lease.

If you are the successful bidder Acuitus requires a separate payment of £500 plus VAT (£600 inclusive of VAT) buyer's administration charge payable to Acuitus Limited

Property Documents

  • Solicitors Legal Pack
    Updated Date
    25.11.19
    File Size
    13 MB
    Login to View
  • Catalogue Page
    Updated Date
    20.11.19
    File Size
    440 KB
    View PDF
  • Site Plan
    Updated Date
    20.11.19
    File Size
    814 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    19.09.19
    File Size
    36 KB
    View PDF

Contacts

Acuitus
Mhairi JarvisMhairi Jarvis +44 (0)7718 899 341mhairi.jarvis@acuitus.co.uk
Georgina RobertsGeorgina Roberts +44 (0)20 7034 4863 +44 (0)7899 877 224georgina.roberts@acuitus.co.uk
Seller's Solicitors
Burness Paull 50 Lothian Road
Edinburgh
EH3 9WJ
Andrew Wood 0131 473 6903andrew.wood@burnesspaull.com

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