Residential development potential (subject to consents)
On-site car parking for approximately 88 cars
Six Week Completion Period Available
Lot 23
Auction 24th May 2012
Rent £271,437 per Annum Exclusive
Status Sold
Price £745,000
Sector Office
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
2 miles north-east of Glasgow city centre, 46 miles west of Edinburgh
Roads
A81, M8 (Junction 17)
Rail
Possilpark and Parkhouse Rail
Air
Glasgow International Airport
Situation
The property is situated on the northern side of Ruchill Street 2 miles north west of Glasgow City Centre. The property benefits from excellent communication links via the A81 to the city centre and the M8 (Junction 17) to the wider motorway network as well as intercity rail connections.
Tenure
Heritable. (Scottish Equivalent of English Freehold).
Location
Miles
2 miles north-east of Glasgow city centre, 46 miles west of Edinburgh
Roads
A81, M8 (Junction 17)
Rail
Possilpark and Parkhouse Rail
Air
Glasgow International Airport
Situation
The property is situated on the northern side of Ruchill Street 2 miles north west of Glasgow City Centre. The property benefits from excellent communication links via the A81 to the city centre and the M8 (Junction 17) to the wider motorway network as well as intercity rail connections.
Tenure
Heritable. (Scottish Equivalent of English Freehold).
Description
The property comprises a mixed use site with accommodation arranged over a number of buildings between one and three storeys. The property benefits from on-site car parking for approximately 88 cars and an approximate site area of 0.91 hectares (2.25 acres).
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a mixed use site with accommodation arranged over a number of buildings between one and three storeys. The property benefits from on-site car parking for approximately 88 cars and an approximate site area of 0.91 hectares (2.25 acres).
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
No
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews/(Reversion)
1
Ground
Office
79.63 sq m (3)
(857 sq ft) (3)
ELAN NETWORKSLIMITED
4 years from 21/12/2009 (1)
£5,525
(20/12/2013)
2
Ground & First
Office
419.26 sq m
(4,513 sq ft)
GLASGOW CITYCOUNCIL
5 years from 01/04/2008
£39,500
(31/03/2013)
3 & 4
Ground and First
Office/ Ancillary
1,499.34 sq m
(16,140 sq ft)
AQUAPAC LIMITED
11 years from 01/04/2002
£34,040
(31/03/2013) (2)
3 & 6
First (Unit 3) & Ground (Unit 6)
Office
681.24 sq m (3)
(7,333 sq ft) (3)
THE PRINCE’STRUST
12 years from 22/01/2001
£35,368
(21/01/2013)
4
First
Workshop
427.99 sq m
(4,607 sq ft)
VACANT
5/1
Ground
Warehouse
128.13 sq m
(1,379 sq ft)
AQUAPAC LIMITED
01/08/2008 (4)
£4,600
(31/08/2008)
5/2 & 5/3
First & Second
Office
205.52 sq m
(2,212 sq ft)
QUARRIERS
9 years from 17/10/2006
£16,104
17/10/2013 (17/10/2015)
6 & 7
Second
Office
836.40 sq m
(9,003 sq ft)
VACANT
6, 7 & 9
Ground & First
Office
1,389.14 sq m
(14,953 sq ft)
GLASGOW CITYCOUNCIL
20 years from 28/11/1992
£112,500
(27/11/2012)
7B
Ground
Office
210.59 sq m
(2,267 sq ft)
VACANT
8A
Ground & First
Workshop
530.76 sq m (3)
(5,714 sq ft) (3)
GLASGOW CITYCOUNCIL
5 years from 01/04/2008
£23,800
(31/03/2013)
8B
Ground & First
Office
454.76 sq m
(4,895 sq ft)
VACANT
8C
Ground & First
Office
186.57 sq m
(2,008 sq ft)
VACANT
8D
Ground & First
Office
157.50 sq m
(1,696 sq ft)
VACANT
Totals
7,206.83 sq m
(77,577 sq ft)
£271,437
(1) As to Unit 1, the lease is subject to a schedule of condition. (2) As to Units 3 & 4, the lease provides for a partial Schedule of Condition. (3) The areas provided for Unit 1, Unit 3 (ground floor), Unit 6 (first floor) and Unit 8B (ground and first floors) are GIA. (4) The licence continues on a month to month basis and either party may terminate the licence by giving not less than two months’ written notice.
