Occupiers include Greggs Plc and Balfour Beatty Group Limited
Located adjacent to A725 Bellshill Bypass
Long leasehold from North Lanarkshire Council
241 on-site car parking spaces
Ten Week Completion (subject to Heritable title holder consent)
Lot 24
Auction 17th October 2013
Rent £339,778 per Annum Exclusive
Status Withdrawn Prior
Price
Sector Office
Auction Venue The Millennium Hotel 44 Grosvenor Square Mayfair London W1K 2HP
Property Information
Location
Miles
11 miles east of Glasgow, 37 miles west of Edinburgh
Roads
M8, M73, M74
Rail
Bellshill Station
Air
Glasgow International Airport
Situation
Bellshill is situated within North Lanarkshire with a resident population in excess of 14,000 people. The subjects lie adjacent to Morrisons’ Scottish Regional Distribution Centre on the Righead Industrial Estate in Bellshill and close to the successful Strathclyde Business Park. The subjects benefit from excellent access to Central Scotland’s motorway network via the A725 Bellshill Bypass to the M74, M73 and M8 motorways.
Tenure
Long Leasehold. Held from North Lanarkshire Council for a term of 175 years until 9 November 2144 at £1 per annum.
Location
Miles
11 miles east of Glasgow, 37 miles west of Edinburgh
Roads
M8, M73, M74
Rail
Bellshill Station
Air
Glasgow International Airport
Situation
Bellshill is situated within North Lanarkshire with a resident population in excess of 14,000 people. The subjects lie adjacent to Morrisons’ Scottish Regional Distribution Centre on the Righead Industrial Estate in Bellshill and close to the successful Strathclyde Business Park. The subjects benefit from excellent access to Central Scotland’s motorway network via the A725 Bellshill Bypass to the M74, M73 and M8 motorways.
Tenure
Long Leasehold. Held from North Lanarkshire Council for a term of 175 years until 9 November 2144 at £1 per annum.
Description
Innovation Park is a former Scottish Brewers depot site redeveloped and now comprising three modern office buildings with a development site of about 0.5 acres (0.20 hectares). The office buildings are fully DDA compliant and benefit from gas central heating, VRV comfort cooling, raised floors, passenger lifts and car parking.
VAT
VAT is applicable to this lot.
Viewings
Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Mhairi Jarvis. Tel: +44 (0)131 554 1705.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
Innovation Park is a former Scottish Brewers depot site redeveloped and now comprising three modern office buildings with a development site of about 0.5 acres (0.20 hectares). The office buildings are fully DDA compliant and benefit from gas central heating, VRV comfort cooling, raised floors, passenger lifts and car parking.
VAT
VAT is applicable to this lot.
Viewings
Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Mhairi Jarvis. Tel: +44 (0)131 554 1705.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Building
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/(Reversion)
Block A
First and Second
Office
1,715 sq m
(18,465 sq ft)
TRADER PUBLISHING LIMITED
15 years from 24/05/2004 (1)
£195,701
(01/08/2019)
Block A North
Ground
Office
468.04 sq m
(5,038 sq ft)
BALFOUR BEATTY GROUP LIMITED
10 years from 13/06/2005 (2)
£50,380
(12/06/2015)
Block A South
Ground
Office
724 sq m
(7,800 sq ft)
VACANT
£0
Block A North
Ground
Office
413 sq m
(4,452 sq ft)
VACANT
£0
Block B
Ground and First
Office
3,251 sq m
(35,000 sq ft)
SCOTIA AID SIERRA LEONE (3)
£0
Block C
Ground
Lorry parking
0.5 acres
0.202 hectares
GIST LIMITED
Rolling contract from 01/06/2006 (4)
£17,000
Block D
Ground
Nursery
323.76 sq m
(3,485 sq ft)
HYDE N SEEK NURSERIES (BELLSHILL) LIMITED
10 years from 12/03/2009
£40,000
(12/03/2014)
Block D
Ground
Retail
59.45 sq m
(640 sq ft)
GREGGS PLC
15 years from 31/03/2010 (5)
£8,000
(30/03/2025)
Block D
First
Office
199.27 sq m
(2,145 sq ft)
ROADBRIDGE LIMITED
3 years from 18/02/2013
£15,000
(17/02/2016)
Block D
First
Office
141.49 sq m
(1,523 sq ft)
DV McCOLL LIMITED
10 years from 01/11/2006 (6)
£13,707
(31/10/2016)
Totals
7,295.01 sq m
(78,548 sq ft)
£339,788
(1) The lease provides an option to break on the tenth anniversary of the term. (2) The lease provides a rolling option to break subject to 6 months’ notice. (3) Let to Scotia Aid Sierra Leone with landlord benefitting from a significant rates saving. There is a mutual option to determine subject to 14 days notice. (4) There is no formal lease agreement with GIST Limited. Please refer to auctioneer. (5) The lease provides a tenant option to break on the 5th and 10th anniversary of the term. (6) The lease provides an option to determine on 31st October 2014. For the purposes of clarification, DV McColl Limited are currently benefitting from a rent free period due to expire on 1st November 2014. The seller has agreed to adjust the completion monies so that the unit will effectively produce £13,707 p.a.x. from completion of the sale.
