Property Auctions 25/May/2017 | Lomond Galleries, Alexandria, West Dunbartonshire, G83 0UG

Substantial Heritable Shopping Centre Opportunity

Attractive Shopping Centre totalling 54,404 sq ft
Grade A Listed
Benefits from an approximate site area of 4.59 acres with substantial car parking
Popular tourist location situated on Loch Lomond National Park
Asset Management Opportunities/ Redevelopment Potential (subject to consents)
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 69
Auction 25th May 2017
Rent £68,166 per Annum Exclusive
Status Sold
Price £265,000
Sector
Shopping Centre
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 17 miles north-west of Glasgow
Roads: A82, M8
Rail: Alexandria Railway Station (Approximately 44 minutes to Glasgow)
Air: Glasgow International Airport

Situation

Alexandria is located 4 miles north-west of Dumbarton, 17 miles north-west of Glasgow and is considered the gateway to Loch Lomond National Park. The property is situated in a highly prominent position on the east side of Main Street, at its junction with Heather Avenue in the heart of the town centre. Loch Lomond National Park benefits from substantial tourism with over 5 million visitors annually.

Tenure

Heritable. Part Heritable (Scottish equivalent of English Freehold). Part Leasehold - Adjacent car park held for a term of 40 years from 21/08/1998 at £1 per annum from West Dumbartonshire Council. Please refer to the legal pack for further information.

Location

Miles: 17 miles north-west of Glasgow
Roads: A82, M8
Rail: Alexandria Railway Station (Approximately 44 minutes to Glasgow)
Air: Glasgow International Airport

Situation

Alexandria is located 4 miles north-west of Dumbarton, 17 miles north-west of Glasgow and is considered the gateway to Loch Lomond National Park. The property is situated in a highly prominent position on the east side of Main Street, at its junction with Heather Avenue in the heart of the town centre. Loch Lomond National Park benefits from substantial tourism with over 5 million visitors annually.

Tenure

Heritable. Part Heritable (Scottish equivalent of English Freehold). Part Leasehold - Adjacent car park held for a term of 40 years from 21/08/1998 at £1 per annum from West Dumbartonshire Council. Please refer to the legal pack for further information.

Description

The property, an attractive Grade A Listed former factory built in 1905, now comprises a shopping centre arranged over ground, lower ground and first floors. In addition to the main building, there are an additional two buildings, a small gatehouse and a two storey house. The property benefits from a site area of 1.86 hectares (4.59 acres) and substantial on-site car parking. In addition to the on-site parking, there is an adjacent car park which is held on a lease from West Dunbartonshire Council.

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, an attractive Grade A Listed former factory built in 1905, now comprises a shopping centre arranged over ground, lower ground and first floors. In addition to the main building, there are an additional two buildings, a small gatehouse and a two storey house. The property benefits from a site area of 1.86 hectares (4.59 acres) and substantial on-site car parking. In addition to the on-site parking, there is an adjacent car park which is held on a lease from West Dunbartonshire Council.

VAT

VAT is applicable to this lot.

EPC

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

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
Museum	Lower Ground	Museum	253.53 sq m	(2,729 sq ft)	ARGYLL CARS & ACCESSORIES LTD	Approx 3 years from 07/07/2012	£7,500	Tacit Relocation - subject to 2 months’ prior notice by Landlord
2A	Lower Ground/ Ground	Retail/ Ancillary	186.82 sq m	(2,011 sq ft)	HALO	A term of years from 18/05/2005	£6,000	Tacit Relocation - subject to 7 days’ prior notice
7	Lower Ground/ Ground	Retail/ Ancillary	244.33 sq m	(2,630 sq ft)	PAVERS LTD	A term of years from 04/07/2003	£6,000	Tacit Relocation - subject to 6 weeks’ prior notice by either party
8 & 9	Lower Ground/ Ground	Retail/ Ancillary	512.35 sq m	(5,515 sq ft)	THE WORKS STORES LIMITED	1 year from 12/02/2007	£16,000	Tacit Relocation - subject to 3 months’ prior notice
11	Ground	Retail/ Ancillary	258.26 sq m	(2,780 sq ft)	INDIVIDUAL t/a Crafts U Make	Approx 5.5 years from 15/04/2013	£20,833	10/11/2018 - subject to 3 months’ prior notice by Landlord
1LF, 1, 2B, 3A, 3B, 4A, 5, 6, 10, 10A	Lower Ground/ Ground	Retail/ Ancillary	1,940.97 sq m	(20,893 sq ft)	VACANT
16	First	Retail/ Ancillary	167.22 sq m	(1,800 sq ft)	INDIVIDUAL	A term of years expiring 31/03/2017	£3,333	Tacit Relocation - subject to 3 months’ prior notice by Landlord
18	First	Retail/ Ancillary	111.48 sq m	(1,200 sq ft)	TOTALLY TARTAN KILTMAKERS	10 years from 07/02/2007	£8,500	Tacit Relocation - subject to 6 months’ prior notice by Landlord
12A, 12B, 13, 14, 15, 17, 19 & 20, 21	First	Retail/ Ancillary	1,379.20 sq m	(14,846 sq ft)	VACANT
Building A	Ground	Store	-	(-)	VACANT
Building B	Ground	Store	-	(-)	VACANT
Outhouse	Ground	Outhouse	-	(-)	VACANT
Totals			5,054.16 sq m	(54,404 sq ft)			£68,166