17 / 23 Bank Street & 1 - 3 Anderson Street Airdrie West Lothian ML6 0AA

17 / 23 Bank Street & 1 - 3 Anderson Street
Airdrie
West Lothian
ML6 0AA

Well Located Retail Investment

Unbroken Parade of Six Retail Units
Approximately 12,084 sq ft of commercial area
Prominent town centre location
Nearby occupiers include Boots the Chemist, Burton and Betfred

Lot
63
Auction
13th July 2017
Rent
£89,000 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of a Major Fund Manager

Important Update Interested?

Expand
Photos
Map

Well Located Retail Investment

Unbroken Parade of Six Retail Units
Approximately 12,084 sq ft of commercial area
Prominent town centre location
Nearby occupiers include Boots the Chemist, Burton and Betfred

Lot 63
Auction 13th July 2017
Rent £89,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of a Major Fund Manager

Property Information

Location

Miles: 10 miles east of Glasgow, 30 miles west of Edinburgh
Roads: A8, A73, A89, M8
Rail: Airdrie Rail (23 minutes to Glasgow Queen Street)
Air: Glasgow Airport

Situation

Airdrie is located approximately 10 miles east of Glasgow and 30 miles west of Edinburgh, with access provided by the M8 Motorway. The property is situated in a prominent corner position at the junction of the busy Bank Street and Anderson Street, in the heart of Airdrie town centre. Nearby occupiers include Boots the Chemist, Burton and Betfred

Tenure

Long Leasehold. Held from North Lanarkshire Council for a term of 125 years expiring 9th October 2113 at a current rent of £13,890 per annum, with upward only reviews every five years to 10% of the gross income

Location

Miles: 10 miles east of Glasgow, 30 miles west of Edinburgh
Roads: A8, A73, A89, M8
Rail: Airdrie Rail (23 minutes to Glasgow Queen Street)
Air: Glasgow Airport

Situation

Tenure

Description

The property comprises an unbroken parade of six retail units with some benefiting from basement and first floor ancillary accommodation.

VAT

VAT is applicable to this lot.

Completion Period

Eight Week Completion

EPC

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

Description

The property comprises an unbroken parade of six retail units with some benefiting from basement and first floor ancillary accommodation.

VAT

VAT is applicable to this lot.

Completion Period

Eight 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 (gross)	Review/ (Reversion)
1a	Ground	Retail/Ancillary	47.73 sq m	(514 sq ft)	VACANT
1b	Ground Basement First	Retail/Ancillary Ancillary Ancillary	112.16 sq m 51.70 sq m 189.31 sq m	(1,212 sq ft) (557 sq ft) (2,038 sq ft)	SCOTTISH MIDLAND CO-OPERATIVE SOCIETY LIMITED (1)	Approx 25 years from 01/10/1990	£9,600	Rolling monthly
2	Ground Basement	Retail/Ancillary Ancillary	69.79 sq m 9.72 sq m	(751 sq ft) (105 sq ft)	BRIAN MICHIE OPTICIANS LIMITED	30 years from 27/07/1993 (2	£20,000	30/11/2018 (30/11/2023)
3	Ground Basement First	Banking Hall/Ancillary Ancillary Ancillary	131.72 sq m 14.94 sq m 316.13 sq m	(1,418 sq ft) (161 sq ft) (3,402 sq ft)	CLYDESDALE BANK PLC (3)	10 years from 22/12/2016	£33,900	22/12/2021 (21/12/2026)
1 Anderson Street	Ground	Retail/Ancillary	66.16 sq m	(712 sq ft)	ADCENTIV MEDIA RETAIL LIMITED	5 years from 02/02/2015	£10,500	(01/02/2020)
3 Anderson Street	Ground	Retail/Ancillary	112.83 sq m	(1,214 sq ft)	CHUNKY MONKEY’S COFFEE LTD	3 years from 31/03/2017	£15,000 (4)	(30/03/2020)
Total			1,122.19 sq m	(12,084 sq ft)			£89,000

(1) For the year ending 30th January 2016, Scottish Midland Co-operative Society Limited reported a turnover of £370,620,000, pre-tax profits of £5,446,000 and a total net worth of £67,220,000 (Source: Experian Group 05/06/2017).
(2) The lease of 2 Bank Street provides an option to determine on 30/11/2018.
(3) Established in 1838, Clydesdale is one of Scotland's largest banks, with over 120 retail branches (Source: www.cybg.com/ 14/06/2017). The lease provides an option to determine on 22/12/2021
(4) The tenant is currently benefitting from a rent free period due to expire on 31st September 2017. The Seller has agreed to adjust the completion monies so that the unit effectively produces £15,000 p.a. from completion of the sale.