17/23 Bank Street & 1-3 Anderson Street Airdrie Lanarkshire ML6 6AF

17/23 Bank Street & 1-3 Anderson Street
Airdrie
Lanarkshire
ML6 6AF

Substantial Bank and 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
91
Auction
18th October 2018
Rent
£84,110 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of a Major Fund Manager

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Substantial Bank and 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 91
Auction 18th October 2018
Rent £84,110 per Annum Exclusive
Status Sold Prior
Price
Sector
Bank
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 Railway station; (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 Railway station; (23 minutes to Glasgow Queen Street)
Air: Glasgow Airport

Situation

Tenure

Description

The property comprises an unbroken parade of six retail units with some benefitting from basement and first floor ancillary accommodation. There is car parking and a loading bay at the rear.

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 comprises an unbroken parade of six retail units with some benefitting from basement and first floor ancillary accommodation. There is car parking and a loading bay at the rear.

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. (gross)	Review/ (Reversion)
1a	Ground	Retail/Ancillary	47.47 sq m	511 sq ft	DL DIRECT LIMITED	3 years from 12/01/2018	£9,000	(11/01/2021)
1b	Ground Basement First	Retail/ Ancillary Ancillary Ancillary	103.19 sq m 50.60 sq m 190.62 sq m	(1,111 sq ft) (545 sq ft) (2,051 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	69.53 sq m 9.74 sq m	(748 sq ft) (105 sq ft)	BRIAN MICHIE OPTICIANS LIMITED	30 years from 27/07/1993	£20,000	30/11/2018 (30/11/2023)
3	Ground Basement First	Banking Hall/Ancillary Ancillary Ancillary	172.81 sq m 16.91 sq m 149.01 sq m	(1,860 sq ft) (182 sq ft) (1,604 sq ft)	CLYDESDALE BANK PLC (2)	10 years from 22/12/2016	£33,900	22/12/2021 (21/12/2026)
1 Anderson Street	Ground	Retail/Ancillary	61.80 sq m	(665 sq ft)	ADCENTIV MEDIA RETAIL LIMITED	5 years from 02/02/2015	£10,500	(01/02/2020)
3 Anderson Street	Ground	Retail/Ancillary	116.41 sq m	(1,253 sq ft)	CHUNKY MONKEYS COFFEE LIMITED	3 years from 31/03/2017	£15,000	(30/03/2020)
Total			988.09 sq m	(10,635 sq ft)			£98,000

(1) For the year ending 28th January 2018, Scottish Midland Co-operative Society Limited reported a turnover of £373,712,000, pre-tax profits of £5,958,000 and a total net worth of £79,059,000 (Source: Experian Group 18/09/2018).
(2) Established in 1838, Clydesdale is one of Scotland’s largest banks, with over 70 retail branches (Source: www.cybg.com/ 05/06/2018). The lease provides an option to determine on 22/12/2021.