Prominent retail/trade counter/industrial park on main arterial road
Bathstore, Glenearn Flooring and D + G Autocare trading at the property for 10-20 years
Approximately 26,391 sq ft (GIA) with parking
Asset management potential
Nearby occupiers include Tesco Extra, MKM Building Supplies, Howdens Joinery, Jewson and Skoda
Prominent position less than one mile south of Perth City Centre
Lot 47
Auction 24th May 2018
Rent £161,333 per Annum Exclusive
Status Withdrawn Post
Price
Sector Trade Counter/Builders Merchants
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
19 miles west of Dundee, 31 miles north-west of Edinburgh
Roads
A85, A90, M90
Rail
Perth Railway Station
Air
Edinburgh Airport
Situation
Perth is one of the fastest growing cities in Scotland and benefits from excellent road and rail communications. The property is situated on the eastern side of Glenearn Road, one of Perth’s main arterial roads, less than one mile south of Perth City Centre. Nearby occupiers include Tesco Extra, MKM Building Supplies, Howdens Joinery, Jewson
and Skoda.
Tenure
Heritable. (Scottish equivalent of English Freehold).
Location
Miles
19 miles west of Dundee, 31 miles north-west of Edinburgh
Roads
A85, A90, M90
Rail
Perth Railway Station
Air
Edinburgh Airport
Situation
Perth is one of the fastest growing cities in Scotland and benefits from excellent road and rail communications. The property is situated on the eastern side of Glenearn Road, one of Perth’s main arterial roads, less than one mile south of Perth City Centre. Nearby occupiers include Tesco Extra, MKM Building Supplies, Howdens Joinery, Jewson
and Skoda.
Tenure
Heritable. (Scottish equivalent of English Freehold).
Description
The property comprises three trade counter units, a tyre and exhaust centre and a gym, arranged on the ground floor only, with a car wash to the rear. The property benefits from 22 marked spaces, with further parking for about 10 cars.
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 trade counter units, a tyre and exhaust centre and a gym, arranged on the ground floor only, with a car wash to the rear. The property benefits from 22 marked spaces, with further parking for about 10 cars.
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
Use
Gross Internal Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/(Reversion)
A
Retail
989.48 sq m
(10,651 sq ft)
GLENEARN FLOORING OF PERTH LIMITED (1)
10 years from 14/06/2016 (2)
£64,000
14/06/2021 (13/06/2026)
B
Retail
322.55 sq m
(3,472 sq ft)
BATHSTORE.COM LIMITED (3)
25 years from 20/03/2000 (3)
£46,000
30/03/2020 (19/03/2025)
B1
Trade Counter/ Industrial
421.58 sq m
(4,538 sq ft)
VACANT
-
-
-
C
Trade Counter/ Industrial
392.41 sq m
(4,224 sq ft)
D + G AUTOCARE LIMITED (4)
10 years from 01/03/2015
£25,000 rising to £28,000 in March 2020
(28/02/2025)
D
Storage/Ancillary
82.68 sq m
(890 sq ft)
EVEN KEEL CONTRACTS LIMITED
5 years from 26/10/2017 (5)
£4,000
(25/10/2022)
E
Gym
243.03 sq m
(2,616 sq ft)
EVEN KEEL LIMITED t/a Curves (6)
5 years from 16/10/2017
£9,000
(15/10/2022)
Yard
Car wash
-
(-)
SOAPER STARS (PERTH) LIMITED (7) with a guarantee from Perthshire Glazing Co Limited
5 years from 05/01/2015
£13,333.33 rising to £14,583.33 in January 2019
(04/01/2020)
Total
2,451.72 sq m
(26,391 sq ft)
£161,333.33
(1) Founded in 1995, Glenearn Flooring is East Scotland’s largest independent flooring store (Source: www.glenearn.co.uk 18/04/2018). Glenearn Flooring have occupied this unit for over 20 years and have recently refitted. (2) The lease is subject to a tenant option to determine on 14th June 2021. If the tenant does not exercise the break option, then a 3 month rent free period will be granted from 14/06/2021. (3) Bathstore are the largest specialist bathroom retailer in the UK, operating from 164 stores nationwide (Source: www.bathstore.com 18/04/2018). This unit has been recently refitted. Whilst the property was originally let for a term of 10 years from 20th March 2000, the tenant extended their lease in 2011 and in 2017. The tenant has therefore been in occupation on this site for 18 years. (4) D + G Autocare specialise in MOTs, tyres, exhausts and brakes and trades from 15 garages across central Scotland (Source: www.dandgautocare.co.uk 18/04/2018). The tenant has been in occupation on this site for 10 years having moved from a smaller site within the park. (5) The lease is subject to a tenant option to determine on 26/04/2020. (6) Curves operate franchises in countries including UK, Spain, France, Belgium, Ireland and Switzerland. They provide more than 4,500 fitness clubs and are present in 76 countries (Source: www.curves.com 18/04/2018). (7) Soaper Stars trade from another site in Perth. A rent deposit of £3,000 is held by the Vendor and the lease is subject to a guarantor.
