41 Hamilton Way Greenock Inverclyde PA15 1RQ

41 Hamilton Way
Greenock
Inverclyde
PA15 1RQ

Heritable Retail Investment

Entirely let to Wilkinson Hardware Stores Limited until 2025 (no breaks)
Prominent position within the Oak Mall Shopping Centre in Greenock town centre
Approximately 24,760 sq ft and a passing rent of £6.05 per sq ft (GIA)
Adjacent to Primark and Boots the Chemist and close to Marks and Spencer and New Look
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
43
Auction
13th October 2016
Rent
£150,000 per Annum Exclusive
Status
Sold
Price
£1,350,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG

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Heritable Retail Investment

Entirely let to Wilkinson Hardware Stores Limited until 2025 (no breaks)
Prominent position within the Oak Mall Shopping Centre in Greenock town centre
Approximately 24,760 sq ft and a passing rent of £6.05 per sq ft (GIA)
Adjacent to Primark and Boots the Chemist and close to Marks and Spencer and New Look
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 43
Auction 13th October 2016
Rent £150,000 per Annum Exclusive
Status Sold
Price £1,350,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG

Property Information

Location

Miles: 2 miles west of Port Glasgow, 22 miles west of Glasgow
Roads: A8, A78
Rail: Greenock Central, Cartsdyke and Whinhill Railway Stations (31 minutes to Glasgow Central)
Air: Glasgow International Airport

Situation

Greenock has a diverse economy including construction and utilities, manufacturing, retailing and public sector. The town has a population in the region of 42,000 people and a primary catchment of approximately 100,000 people. The property is situated in the Oak Mall a fully enclosed 283,000 sq ft shopping centre which is located at the eastern end of West Blackhall Street in the town centre. Major tenants within the shopping centre include Marks & Spencer, Boots, New Look and Primark.

Tenure

Heritable. (Scottish equivalent of English Freehold).

Location

Miles: 2 miles west of Port Glasgow, 22 miles west of Glasgow
Roads: A8, A78
Rail: Greenock Central, Cartsdyke and Whinhill Railway Stations (31 minutes to Glasgow Central)
Air: Glasgow International Airport

Situation

Tenure

Heritable. (Scottish equivalent of English Freehold).

Description

The property comprises a modern L-shaped retail unit at ground floor with a large stock room, staff and storage at first floor level. The main customer entrance is from Oak Mall with a secondary entrance at the rear from Charles Place. Charles Place links to Greenock Bus Station via an underground walkway.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

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	Review/(Reversion)
Ground First	Retail/Ancillary Ancillary	1,447.58 sq m 852.79 sq m	(15,581 sq ft) (9,179 sq ft)	WILKINSON HARDWARE STORES LIMITED (1)	15 years from 21/04/2010 to 20/04/2025 on a full repairing and insuring lease	£150,000	21/04/2020
Totals		2,300.37 sq m	(24,761 sq ft)			£150,000

(1) Wilkinsons opened their first store in Leicester in 1930. The company now has over 370 stores in the UK and trades as Wilko. For the year to 30 January 2016, Wilkinson Hardware Stores Limited reported a gross turnover of £1,464,475,000, a pre tax profit of £25,955,000 and has a net worth of £182,398,000. (Riskdisk 08/08/2016)