Unit 1 let to Wolseley UK Limited t/a Plumb Center on a recently renewed 10 year lease (subject to
option)
Benefits from roller shutter doors, car parking and a secure yard
Situated on an established industrial estate
Lot 44
Auction 13th July 2017
Rent £33,400 per Annum Exclusive
Status Sold
Price £325,000
Sector Industrial, Warehouse
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
6 miles south-west of Glasgow City Centre
Roads
A727, M77 (Junction 3)
Rail
Thornliebank Railway Station
Air
Glasgow International Airport
Situation
Thornliebank Industrial Estate is a popular and established industrial location six miles from Glasgow City Centre and is strategically located at junction 3 of the M77, which provides access to Glasgow to the north and Kilmarnock to the south. The property is prominently situated within the heart of the estate, on the north side of Spiersbridge Terrace.
Tenure
Heritable. (Scottish Equivalent of English Freehold).
Location
Miles
6 miles south-west of Glasgow City Centre
Roads
A727, M77 (Junction 3)
Rail
Thornliebank Railway Station
Air
Glasgow International Airport
Situation
Thornliebank Industrial Estate is a popular and established industrial location six miles from Glasgow City Centre and is strategically located at junction 3 of the M77, which provides access to Glasgow to the north and Kilmarnock to the south. The property is prominently situated within the heart of the estate, on the north side of Spiersbridge Terrace.
Tenure
Heritable. (Scottish Equivalent of English Freehold).
Description
The property comprises three self-contained industrial units which form part of a larger terrace and provide ground floor warehouse and office accommodation, with additional ancillary accommodation on the first floor. The property benefits from an eaves height of 3 metres, roller shutter doors, car parking and a secure palisade fenced yard.
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
The property comprises three self-contained industrial units which form part of a larger terrace and provide ground floor warehouse and office accommodation, with additional ancillary accommodation on the first floor. The property benefits from an eaves height of 3 metres, roller shutter doors, car parking and a secure palisade fenced yard.
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
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/ (Reversion)
1
Ground First
Warehouse/Office Ancillary
274.60 sq m 37.20 sq m
(2,956 sq ft) (400 sq ft)
WOLSELEY UK LIMITED (1) t/a Plumb Center
10 years from 27/05/2017 (2)
£15,400 (3)
27/05/2022 (26/05/2027)
2 & 3
Ground
Warehouse/Office
279.00 sq m
(3,003 sq ft)
DAVID MYLETT MOTOR ENGINEERS LIMITED
6 years from 24/06/2014
£18,000
24/06/2017 (23/06/2020)
4
Ground
Warehouse/Office
210.90 sq m
(2,270 sq ft)
VACANT
Total
801.70 sq m
(8,629 sq ft)
£33,400 (3)
(1) With over 490 branches nationwide, Plumb Center is one of the UK's leading suppliers of plumbing and heating products (Source: www.plumbcenter.co.uk). (2) The lease provides for a tenant option to determine on 26th May 2022. If the tenant does not exercise their option to determine they will benefit from a rent free period from 27th May 2022 until 26th November 2022. (3) The lease provides for fixed increases in rent. In year one the rent is £10,800 p.a.x., in year two the rent will increase to £11,950 p.a.x., in year three the rent will increase to £13,100 p.a.x., in year four the rent will increase to £14,250 p.a.x and in year five the rent will increase to £15,400 p.a.x. The seller has agreed to adjust the completion monies so that the unit will effectively produce £15,400 p.a.x. from completion of the sale.
