Victory Court Arthur Street Greenock Renfrewshire PA15 4RT

Victory Court
Arthur Street
Greenock
Renfrewshire
PA15 4RT

Modern Office Investment

Entirely let to Scottish Enterprise on a 25 Year Lease until 2019
Prominent corner position
Approximate site area of 0.170 hectares (0.42 acres)
Nearby occupiers include Grahams, Royal Mail and Holiday Inn Express
On-site car park for approximately 24 cars
Rent: £86,500 (gross), £85,000 (net)
Six Week Completion Period Available

Lot
16
Auction
18th October 2012
Rent
£86,500 per Annum Exclusive
Status
Sold
Price
£460,000
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP
On behalf of a Mortgagee in Possession

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Modern Office Investment

Entirely let to Scottish Enterprise on a 25 Year Lease until 2019
Prominent corner position
Approximate site area of 0.170 hectares (0.42 acres)
Nearby occupiers include Grahams, Royal Mail and Holiday Inn Express
On-site car park for approximately 24 cars
Rent: £86,500 (gross), £85,000 (net)
Six Week Completion Period Available

Lot 16
Auction 18th October 2012
Rent £86,500 per Annum Exclusive
Status Sold
Price £460,000
Sector
Office
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP
On behalf of a Mortgagee in Possession

Property Information

Location

Miles: 2 miles west of Port Glasgow, 22 miles west of Glasgow
Roads: A8, A78
Rail: Greenock Central, Cartsdyke and Whinhill Rail Stations (31 minutes to Glasgow Central)
Air: Glasgow International Airport

Situation

The property is situated in a prominent corner location on the southern side of Arthur Street, at its junction with Cartsburn Street, within the Cartsburn Maritime Development. Nearby occupiers include Grahams, Royal Mail and Holiday Inn Express.

Tenure

Long Leasehold. Held by Ventures Limited for a term of 175 years from 4th January 2002 until 3rd January 2177 at a rent of £1,500 p.a.x. There is an option to purchase the heritable interest on 1st June 2024. If not exercised the rent payable will decrease to £20 p.a.x.

Location

Miles: 2 miles west of Port Glasgow, 22 miles west of Glasgow
Roads: A8, A78
Rail: Greenock Central, Cartsdyke and Whinhill Rail Stations (31 minutes to Glasgow Central)
Air: Glasgow International Airport

Situation

Tenure

Description

The property comprises office accommodation over ground, first and second floors. The property benefits from an approximate site area of 0.170 hectares (0.42 acres) and an on-site car park for approximately 24 cars.

Note
This property is being marketed for sale on behalf of a Mortgagee in Possession excluding any title guarantees, warranties or indemnities. The information in these particulars has been provided by the Mortgagee in Possession to the best of their knowledge butthe purchaser must rely solely upon their own enquiries. The Mortgagee in Possession is not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground First Second	Office Office Office	213.79 sq m 223.24 sq m 223.89 sq m	(2,312 sq ft) (2,403 sq ft) (2,410 sq ft)	SCOTTISHENTERPRISE(1) (2)	25 years from 28/02/1994 until 27/02/2019 on a full repairing and insuring lease	£86,500	28/02/2014
Totals		661.92 sq m	(7,125 sq ft)			£86,500

(1) Scottish Enterprise was established under the Enterprise and New Towns (Scotland) Act 1990 for the purposes of furthering the development of Scotland’s economy. Scottish Enterprise’s overall objective is to make a significant contribution to achieving the Scottish Government’s purpose of increasing Scotland’s rate of sustainable economic growth. (Source: www.scottish-enterprise.com 13/09/2012)
(2)Scottish Enterprise has sub let the property. The ground floor is occupied by HEROtsc and Pearson Professional Centre and the first and second floors are occupied by the Crown Office & Procurator Fiscal Office.