Very well located 450 yards from Junction 1A of the M74
Traditional industrial location to the south of Glasgow city centre
Let to Cemex UK Operations Limited until 2038 (no breaks)
Approximately 0.478 hectares (1.18 acres)
Neighbouring occupiers include Glasgow City Council and Hanson
Significant regeneration projects in the immediate area including an extensive development by Viridor on the neighbouring site
Lot 28
Auction 11th December 2014
Rent £16,500 per Annum Exclusive
Status Withdrawn Post
Price
Sector Ground Rent
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
35 miles west of Edinburgh
Roads
M74, M8
Rail
Glasgow Central Station
Air
Glasgow International Airport (9 miles west)
Situation
The property is situated in an established industrial location to the south of Glasgow city centre and adjacent to junction 1A of the M74. The site is situated close to a parade of industrial units.
Vehicles visiting site 3 access it from the eastern side and a one way system within the site allows vehicles to exit to the west.
Tenure
Heritable. (Scottish equivalent of English Freehold)
Location
Miles
35 miles west of Edinburgh
Roads
M74, M8
Rail
Glasgow Central Station
Air
Glasgow International Airport (9 miles west)
Situation
The property is situated in an established industrial location to the south of Glasgow city centre and adjacent to junction 1A of the M74. The site is situated close to a parade of industrial units.
Vehicles visiting site 3 access it from the eastern side and a one way system within the site allows vehicles to exit to the west.
Tenure
Heritable. (Scottish equivalent of English Freehold)
Description
The property comprises an industrial site fitted out by the tenant to provide extensive cement batching plant and ancillary office accommodation with a tarmac surface. The site comprises a total of 0.478 hectares (1.18 acres).
Note
VAT is applicable to this lot. VAT will therefore be chargeable on the sale price unless the transaction is treated as a Transfer of a Going Concern (TOGC).
Six Week Completion
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 (Telephone: +44 (0)131 554 1705 or Will Moore (Telephone: +44 (0)20 7034 4858).
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises an industrial site fitted out by the tenant to provide extensive cement batching plant and ancillary office accommodation with a tarmac surface. The site comprises a total of 0.478 hectares (1.18 acres).
Note
VAT is applicable to this lot. VAT will therefore be chargeable on the sale price unless the transaction is treated as a Transfer of a Going Concern (TOGC).
Six Week Completion
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 (Telephone: +44 (0)131 554 1705 or Will Moore (Telephone: +44 (0)20 7034 4858).
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Site
Site Area (Approx)
Tenant
Term
Rent p.a.x
Review/(Reversion)
Site 4
0.478 Hectares
(1.18 Acres)
CEMEX UK OPERATIONS LIMITED (1)
25 years from 29/03/2013 until 28/03/2038
£16,500 (2)
29/03/2018 (3)
Totals
0.478 Hectares
(1.18 Acres)
£16,500
(1) As at 31st December 2013, Cemex UK Operations Limited reported a turnover of £733,126,000, pre-tax loss of £10,553,000 and a net worth of £1,264,015,000 (Source: Experian 12/11/2014). (2)There is a Deed currently being signed by the parties that increases the rent from £14,855 p.a. to £16,500 p.a. and will be completed shortly. In the event this has not taken place by completion then the rent will be topped up. (3)The rent is reviewed to the market rent of a vacant plot of land ready for immediate occupation.
