18 Montrose Street
Glasgow
G1 1RE

Heritable Retail Investment

  • Let to Fourworks Limited (ultimately partly owned by Sports Direct) on a 10 year lease until 2025 (no breaks)
  • Tenant in occupation for over 9 years
  • Open Market Rent review March 2020
  • City Centre Location
  • Nearby occupiers in the Merchant City include Hugo Boss, Bang and Olufsen, Bose, Ralph Lauren and Belstaff
  • Lot
    35
  • Auction
    11/Dec/2019
  • Rent
    £65,000 per Annum Exclusive
  • Status
    Available
  • Price*
    £500,000 - £600,000
  • Sector
    High Street Retail
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    London W1H 7TN
Important Auction & Property Update
  • 18 Montrose Street<br>Glasgow<br>G1 1RE
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* More information on the term "price" can be found here

Property Information

Location
Miles
47 miles west of Edinburgh
Roads
M8
Rail
Glasgow Central Station, Glasgow Queen Street Station
Air
Glasgow International Airport (9 miles west)
Situation

The property is located on the east side of Montrose Street at the junction of Cochrane Street in the fashionable Merchant City District of Glasgow City Centre, some 700 metres east of Glasgow Central Railway Station. Merchant City is home to luxury brands such as Versace, Emporio Armani, Hugo Boss, Bang and Olufsen, Bose, Ralph Lauren, Mulberry and Agent Provocateur.

Tenure

Heritable. (Scottish equivalent of Freehold)

Description

The property comprises ground floor and lower ground floor retail accommodation which forms part of a larger building.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Available from the legal pack at acuitus.co.uk

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReview/
(Reversion)
Ground
Lower Ground
Lower Ground
Retail
Retail
Ancillary
232.19 sq m
87.61 sq m
49.31 sq m
(2,499 sq ft)
(943 sq ft)
(531 sq ft)
18MONTROSE RETAIL LIMITED (owned by Sports Direct.com Retail Limited) t/a 18montrose (1)10 years from 19/03/2015 on a full repairing and
insuring lease
£65,00019/03/2020
(18/03/2025)
Totals
369.11 sq m
(3,973 sq ft)
  £65,000 

(1) Fourworks Limited (CRN 04072928) are owned by Four (Holdings) Limited (CRN 04225618) who are in turn, partly owned by Sports Direct. ***Charles please confirm precise name and CRN of the sports direct ownership*** For the year ending 31st December 2018, Fourworks Limited reported a turnover of £19,862,347, a pre-tax profit of negative £1,024,094 and a net worth of £2,388,721 (Source: Experian Group 05/11/2019). Current management accounts are available to inspect within the legal pack which is available at acuitus.co.uk.

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
    04.12.19
    File Size
    23 MB
    Login to View
  • Catalogue Page
    Updated Date
    20.11.19
    File Size
    1 MB
    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
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Mhairi JarvisMhairi Jarvis +44 (0)7718 899 341mhairi.jarvis@acuitus.co.uk
Seller's Solicitors
AB & A Matthews The Old Bank, Buccleuch Street Bridge
Dumfries
DG2 7TJ
Neil DaPrato 01387 257 300neildaprato@abamatthews.com

Useful Links

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