61 Kilmarnock Road Glasgow Scotland G41 3YR

61 Kilmarnock Road
Glasgow
Scotland
G41 3YR

Heritable Retail Investment

Let to Poundworld Retail Limited on a new 10 year lease until 2025 (no breaks)
Tenant fitting out the unit to commence trading in February 2016
Prominent position on busy arterial route and opposite Shawlands Shopping Centre
Nearby occupiers include Iceland, B&M Stores and Bank of Scotland
Opposite Shawlands Shopping Centre
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
49
Auction
11th February 2016
Rent
£70,000 per Annum Exclusive
Status
Sold
Price
£773,000
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Heritable Retail Investment

Let to Poundworld Retail Limited on a new 10 year lease until 2025 (no breaks)
Tenant fitting out the unit to commence trading in February 2016
Prominent position on busy arterial route and opposite Shawlands Shopping Centre
Nearby occupiers include Iceland, B&M Stores and Bank of Scotland
Opposite Shawlands Shopping Centre
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 49
Auction 11th February 2016
Rent £70,000 per Annum Exclusive
Status Sold
Price £773,000
Sector
High Street Retail
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 3 miles south of Glasgow city centre
Roads: A77, M77 and M74
Rail: Shawlands and Pollockshaws East Stations; Glasgow Central Station
Air: Glasgow Airport (8 miles west)

Situation

The property is situated in a prominent position on Kilmarnock Road opposite Shawlands Shopping Centre. Nearby occupiers include B&M Stores, Iceland, Bank of Scotland, Boots and Barclays with Shawlands Shopping Centre including occupiers Sainsburys, Betfred and Farmfoods. Kilmarnock Road forms the main A77 linking Glasgow city centre and the M77 towards Ayr. The area is highly populated with an estimated 84,000 people living within a 1 mile radius of the property.

Tenure

Heritable. (Scottish equivalent of English Freehold).

Location

Miles: 3 miles south of Glasgow city centre
Roads: A77, M77 and M74
Rail: Shawlands and Pollockshaws East Stations; Glasgow Central Station
Air: Glasgow Airport (8 miles west)

Situation

Tenure

Heritable. (Scottish equivalent of English Freehold).

Description

The property comprises a modern three storey building with retail sales at ground floor. The property benefits from a rear delivery access area. There is potential for redevelopment of the upper floor space for residential use (subject to planning consent).

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

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
Lower Ground Ground First	Ancillary Retail Storage	303.98 sq m 461.91 sq m 225.01 sq m	(3,272 sq ft) (4,972 sq ft) (2,422 sq ft)	POUNDWORLD RETAIL LIMITED (1)	10 years from 30/10/2015 on a full repairing and insuring lease	£70,000	29/10/2025
Totals		990.90 sq m	(10,666 sq ft)			£70,000

(1) Poundworld started trading in 2004 and now has more than 300 outlets nationwide and employs around 6,000 people. For the year ending 31st March 2015, Poundworld Retail Limited reported a turnover of £422,304,000, a pre-tax profit of £13,726,000 and has a net worth of £22,197,000 (Source: www.riskdisk.com 16/01/2016).