Annual rental increases with rent reviews to the RPI (capped between 2%-4%)
Nearby occupiers include Lloyds TSB, Lloyds Pharmacy, Optical Express, Greggs and Farmfoods
Lot 50
Auction 27th May 2010
Rent £150,000 per Annum
Status Sold
Price £1,090,000
Sector Supermarket
Auction Venue Millennium Hotel 39-44 Grosvenor Square Mayfair London W1K 2HP
Property Information
Location
Estimated District Population
15,500
Miles
2 miles south of Hamilton
18 miles south-east of Glasgow
Roads
M74, A71, A72
Rail
Larkhall Rail
Air
Glasgow International Airport?
Situation
The property is situated between Caledonian Road and Union Street, opposite Larkhall Rail Station. The property benefits from pedestrian access via a lane from the main retail pitch, Union Street, and vehicular access from Caledonian Road.
Tenure
Heritable.
Location
Estimated District Population
15,500
Miles
2 miles south of Hamilton
18 miles south-east of Glasgow
Roads
M74, A71, A72
Rail
Larkhall Rail
Air
Glasgow International Airport?
Situation
The property is situated between Caledonian Road and Union Street, opposite Larkhall Rail Station. The property benefits from pedestrian access via a lane from the main retail pitch, Union Street, and vehicular access from Caledonian Road.
Tenure
Heritable.
Description
The property comprises a PURPOSE BUILT SUPERMARKET with GROUND FLOOR RETAIL ACCOMMODATION on part ground and first floors. The property benefits from an extensive car park and a separate service yard. Please note there is a telephone mast on site. VATVAT is applicable on this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a PURPOSE BUILT SUPERMARKET with GROUND FLOOR RETAIL ACCOMMODATION on part ground and first floors. The property benefits from an extensive car park and a separate service yard. Please note there is a telephone mast on site. VATVAT is applicable on 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
Reviews
Ground
First
Retail Ancillary Office/Ancillary
1,054.09 sq m 447.35 sq m 339.00 sq m
(11,347 sq ft) (4,815 sq ft) (3,649 sq ft)
HALDANES STORES LIMITED (1)(2)
25 years from 13/03/2010 until 2035 on a full repairing and insuring lease (3)
£150,000
Annually every March until 2035 (4)
Totals
1,840.44 sq m
(19,811 sq ft)
(1) For the year ending 10th January 2009 Co-Operative Group Limited reported gross sales of ?10,435,200,000, pre-tax profits of ?115,900,000 and total equity and liabilities of ?43,349,200,000. (Source: The Co-Operative Group Annual Report and Accounts 2008) (2) Please note Haldanes have fitted out and have been trading since 16th March 2010. (3) The lease is subject to a 1 year rent free period from commencement of the lease. Co-Operative Group Limited will make payment of an amount equivalent to the rent to cover the balance of this rent free period. Co-Operative Group Limited will then guarantee the rent for a further year. (4) Annual reviews to RPI (capped between 2%-4%).
