1265/1179 Gallowgate
Glasgow
G31 4EB

Freehold Industrial Investment

  • Includes a carwash with a small warehouse and a larger separately accessed warehouse building
  • Prominent location adjacent to Parkhead Forge Shopping Centre and Forge Retail Park
  • Nearby occupiers include B&M Home Store, Pets at Home, Tesco Extra, B&Q, Next, McDonald's and Asda Superstore.
  • Lot
    29
  • Auction
    23/Sep/2020
  • Rent
    £47,000 per Annum Exclusive
  • Status
    Available
  • Price*
    Contact Us
  • Sector
    Industrial/Warehouse
  • Auction Venue
    Live Streamed Auction
Important Update
  • 1265/1179 Gallowgate<br>Glasgow<br>G31 4EB
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* More information on the term "price" can be found here

Property Information

Location
Miles
2 miles east of Glasgow City Centre
Roads
A728, A74, M8, M74
Rail
Duke Street Rail Station
Air
Glasgow Airport
Situation

The property is prominently situated in a predominantly industrial and retail area on the north side of Gallowgate Road, adjacent to the popular Parkhead Forge Shopping Centre and Forge Retail Park. Nearby occupiers include B&M Home Store, Pets at Home, Tesco Extra, B&Q, Next, McDonald's and Asda Superstore.

Tenure

Heritable.

Description

The property comprises a car dealership and small warehouse with a separately accessed warehouse building at the rear. The warehouse at the rear is a single storey industrial building of brick construction with a steel portal frame, with a roller shutter door and an eaves height of 3.25 metres.

Note

VAT is applicable to part of the property.(See Special Conditions of Sale)

Completion Period

Six Week Completion

EPC

See legal pack.

Tenancy & Accommodation

AccommodationUseFloor Areas
(Approx)
TenantTermRent p.a.xReviews/
(Reversion)
1265 GallowgateWarehouse
792.53 sq m
(8,531 sq ft)
SIG TRADING
LIMITED(1)(2)(3)
13 years from
29/09/2010 to
28/09/2023 on FRI
terms
£29,19028/09/2023
1179-1195GallowgateWarehouse344.38 sq m(3,707 sq ft)STAR FIT
LIMITED(4)
From 01/05/2019 to
27/03/2029 on FRI
terms
£18,50028/09/2023(5)
28/09/2023,
28/09/2026
(6)
Totals
1,136.91 sq m
(12,238 sq ft)
   

(1) For the year ending 31st December 2018, SIG Trading Limited reported a turnover of 1,112,000,000, a pre-tax profit of 2,000,000 and shareholder funds of 260,000,000 (Source: SmartSearch 05/08/2020).
(2) There is a sublease in place to Changeworks Recycling Ltd from November 2019 until 23/07/2023. This sublease is subject to a schedule of condition between the head tenant and subtenant
(3) This is an FRI lease but subject to a photo schedule of condition
(4) A personal guarantee of all payments and obligations of the tenant company under the lease has been provided by a director of Star Fit Limited
(5) There is a landlord only break option on 28th September 2023
(6) There will be a rent review on 28/09/2023 and 28/09/2026

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    25.09.20
    File Size
    30 MB
    Login to View
  • Site Plan
    Updated Date
    02.09.20
    File Size
    452 KB
    View PDF
  • Catalogue Page
    Updated Date
    04.09.20
    File Size
    769 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    07.10.20
    File Size
    1,016 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
Mhairi ArchibaldMhairi Archibald +44 (0)7718 899 341 Mhairi.archibald@acuitus.co.uk
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
Seller's Solicitors
Raeside Chisholm Solicitors Limited Tontine House, 8 Gordon Streett
Glasgow
G1 3PL
Malcolm Goddard 0141 248 3456m.goddard@raesidechisholm.co.uk

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