Let to Somerfield Stores Ltd (guaranteed by Co-operative Group Food Ltd) on a 15 year reversionary lease until 2030 (subject to option)
Tenant in occupation since 1990
Affluent and historic town
Benefits from large public car park to the rear
Lot 47
Auction 23rd October 2014
Rent £57,700 per Annum Exclusive
Status Sold
Price £705,000
Sector Supermarket/Convenience
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
On behalf of Trustees
Property Information
Location
Miles
15 miles west of Glasgow
Roads
M8, M77
Rail
Paisley Station (Mainline), Johnstone Station (ScotRail)
Air
Glasgow International Airport
Situation
Bridge of Weir is an affluent commuter town 15 miles west of Glasgow. The property is situated in a prominent roadside location on the eastern side of Main Street and acts as an anchor store for the Livery Walk pedestrianised area. Occupiers in Livery Walk include Boots the Chemist and a number of independent retailers. The property benefits from being in close proximity to a large public car park to the rear.
Tenure
Heritable. Heritable (Scottish Equivalent of English Freehold).
Location
Miles
15 miles west of Glasgow
Roads
M8, M77
Rail
Paisley Station (Mainline), Johnstone Station (ScotRail)
Air
Glasgow International Airport
Situation
Bridge of Weir is an affluent commuter town 15 miles west of Glasgow. The property is situated in a prominent roadside location on the eastern side of Main Street and acts as an anchor store for the Livery Walk pedestrianised area. Occupiers in Livery Walk include Boots the Chemist and a number of independent retailers. The property benefits from being in close proximity to a large public car park to the rear.
Tenure
Heritable. Heritable (Scottish Equivalent of English Freehold).
Description
The property comprises a purpose built single storey supermarket with customer access to Livery Walk.
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
The property comprises a purpose built single storey supermarket with customer access to Livery Walk.
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
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground
Supermarket
452.25 sq m
(4,868 sq ft)
SOMERFIELD STORES LTD guaranteed by Co-operative Group Food Ltd (1)
40 years from 13/06/1990 until 2030 on a full repairing and insuring lease (2) (3)
£57,700
13/06/2020 & 2025
Totals
452.25 sq m
(4,868 sq ft)
£57,700
(1) The tenant has been in occupation since 1990. (2)The tenant occupies the property under a lease for a term of 25 years from 13th June 1990 at a current rent reserved of £57,700 p.a.x. The tenant exercised their option to extend the lease for a term of 15 years from 13th June 2015 at a rent reserved of £57,700. (3)The lease provides for a tenant option to determine on the 13th June 2020 and 13th June 2025.
