Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On behalf of Joint Administrators
Property Information
Location
Miles
47 miles west of Edinburgh
Roads
M8
Rail
Glasgow Queens Street Station,
Glasgow Central Station, Anderston Station
Air
Glasgow International Airport (9 miles west)
Situation
Hydepark Street is located on the north bank of the River Clyde on the edge of Glasgow city centre and is within a quarter of a mile of Junction 18 and 19 of the M8 Motorway. The property is located close to the SSE Hydro, a 13,000 capacity arena venue opened in 2013. Other nearby occupiers include NHS and Media Scotland.
Tenure
Heritable. (Scottish Equivalent of English Freehold).
Location
Miles
47 miles west of Edinburgh
Roads
M8
Rail
Glasgow Queens Street Station,
Glasgow Central Station, Anderston Station
Air
Glasgow International Airport (9 miles west)
Situation
Hydepark Street is located on the north bank of the River Clyde on the edge of Glasgow city centre and is within a quarter of a mile of Junction 18 and 19 of the M8 Motorway. The property is located close to the SSE Hydro, a 13,000 capacity arena venue opened in 2013. Other nearby occupiers include NHS and Media Scotland.
Tenure
Heritable. (Scottish Equivalent of English Freehold).
Description
The property comprises a modern four storey office building with a car hire reception area at ground floor and a separate entrance for the three levels of office accommodation above. The property benefits from a car park area to the rear, accessed from the northern end of the site.
Planning
Historic planning permission was granted (now lapsed) for 92 residential units with ground floor commercial accommodation. Please refer to Glasgow City Council Planning (Ref: 04/02909/DC).
Note
This property is being marketed for sale on behalf of Joint Administrators and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Administrators to the best of their knowledge but the purchaser must rely solely on their own enquiries. The Joint Administrators are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a modern four storey office building with a car hire reception area at ground floor and a separate entrance for the three levels of office accommodation above. The property benefits from a car park area to the rear, accessed from the northern end of the site.
Planning
Historic planning permission was granted (now lapsed) for 92 residential units with ground floor commercial accommodation. Please refer to Glasgow City Council Planning (Ref: 04/02909/DC).
Note
This property is being marketed for sale on behalf of Joint Administrators and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Administrators to the best of their knowledge but the purchaser must rely solely on their own enquiries. The Joint Administrators are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
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
Reversion
Ground Floor
Reception and Garage
837.61 sq m
(9,016 sq ft)
HERTZ (UK) LIMITED (1)
15 years from 18/06/2001
£47,500
18/06/2016 (2)
First Floor
Office
449.28 sq m
(4,836 sq ft)
VACANT POSSESSION
Second Floor
Office
449.28 sq m
(4,836 sq ft)
VACANT POSSESSION
Third Floor
Office
449.28 sq m
(4,836 sq ft)
THE ASSOCIATION OF CHARTERED CERTIFIED ACCOUNTANTS (ACCA)
5 years from 04/04/2011
£53,478
03/04/2016 (3)
Totals
2,185.45 sq m
(23,524 sq ft)
£100,978
(1) For the year ending 21/02/2014, Hertz (UK) Limited reported a turnover of £157,779,000 and a total net worth of £36,073,000. (Source: www.riskdisk.com 10/06/2015) (2)A lease extension has been agreed with Hertz (UK) Limited for 5 years from the existing lease expiry at an annual rent of £48,000 p.a. Further detail can be obtained from the auctioneers. (3) The lease to ACCA provided a break option in April 2015 which was not exercised.
