Property Auctions 23/May/2019 | Westwood Square Retail Centre, East Kilbride, Glasgow, G75 8JQ

Heritable Neighbourhood Retail Centre with Extensive Parking

Extensive neighbourhood shopping centre
24 retail units & MOT centre in predominantly residential suburb
Uses include bank, betting shop, hot food takeaway and dental surgery
Two large car parks
Tenants include RBS, Done Brothers and East Kilbride District Council

Lot 42
Auction 23rd May 2019
Rent £195,314 per Annum Exclusive
Status Sold
Price £1,000,000
Sector
High Street Retail
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN

Property Information

Location

Miles: 9 miles south-east of Glasgow; 45 miles south-west of Edinburgh
Roads: M74, M8
Rail: East Kilbride Station
Air: Glasgow International Airport; (16 miles north-west)

Situation

East Kilbride was Scotland's first New Town and has a resident population of approximately 80,000.
The town is situated 9 miles south-east of Glasgow and is highly accessible, with direct links to Junction 5 of the M74. The property is prominently located in the Westwood area of the town and forms the neighbourhood retail offering there.

Tenure

Heritable. (Scottish equivalent of English Freehold).

Location

Miles: 9 miles south-east of Glasgow; 45 miles south-west of Edinburgh
Roads: M74, M8
Rail: East Kilbride Station
Air: Glasgow International Airport; (16 miles north-west)

Situation

East Kilbride was Scotland's first New Town and has a resident population of approximately 80,000.
The town is situated 9 miles south-east of Glasgow and is highly accessible, with direct links to Junction 5 of the M74. The property is prominently located in the Westwood area of the town and forms the neighbourhood retail offering there.

Tenure

Heritable. (Scottish equivalent of English Freehold).

Description

Westwood Square is an extensive neighbourhood retail scheme that comprises 24 ground floor shops which form part of a larger building. The property also includes two areas of car parking to the east and west of the retail block together with an MOT centre.
The upper floors, which are residential, are not included in the sale.

VAT

VAT is applicable to this lot.

Viewings

Please contact Mhairi Jarvis on 44 (0)7718 899341.

EPC

Available from the legal pack at acuitus.co.uk.

Description

Westwood Square is an extensive neighbourhood retail scheme that comprises 24 ground floor shops which form part of a larger building. The property also includes two areas of car parking to the east and west of the retail block together with an MOT centre.
The upper floors, which are residential, are not included in the sale.

VAT

VAT is applicable to this lot.

Viewings

Please contact Mhairi Jarvis on 44 (0)7718 899341.

EPC

Available from the legal pack at acuitus.co.uk.

Tenancy & Accommodation

Address	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
2-12 Westwood Square	Retail	466.83 sq m	(5,025 sq ft)	CJ Lang and Son Ltd	25 years from 09/06/1998 to 08/06/2023	£36,750	08/06/2023
124 Westwood Square	Retail	22.30sq m	(240 sq ft)	DCM Fire Ltd	2 years from 28/10/2018 to 27/10/2020	£2,760	27/10/2020
23-25 Westwood Square	Betting shop	115.11 sq m	(1,239 sq ft)	Done Brothers (Cash Betting) Ltd (1)	15 years from 10/03/2008 to 09/03/2023	£11,000	09/03/2023
Public Toilets	Public Toilets	54.35 sq m	(585 sq ft)	East Kilbride District Council	99 years from 02/11/1968 to 28/11/2067	£5	28/11/2067
24 Westwood Square	Retail	51.00 sq m	(549 sq ft)	Individual	5 years from 01/08/2015 to 31/07/2020	£4,500	31/07/2020
16 Westwood Square	Retail	68.38 sq m	(736 sq ft)	Ernarxo Ltd	39 years from 18/05/1998 to 17/07/2037	£6,250	17/07/2037
20 Westwood Square	Retail	54.16 sq m	(583 sq ft)	Individual	13 years from 03/11/2006 to 02/11/2019	£5,000	02/11/2019
18 Westwood Square	Retail	53.51 sq m	(576 sq ft)	Individual	20 years from 17/11/2006 to 16/11/2026 (4)	£5,000	16/11/2026
28 Westwood Square	Retail	52.95 sq m	(570 sq ft)	Individual	7 years from 04/05/2012 to 27/11/2019	£5,200	27/11/2019
27-29 Westwood Square	Retail	115.20 sq m	(1,240 sq ft)	Individual	5 years from 09/01/2019 to 06/01/2024	£7,500	06/01/2024
7 Westwood Square	Retail	53.51 sq m	(576 sq ft)	Individual	12 years from 28/06/2007 to 31/10/2019	£5,400	31/10/2019
130-132 Westwood Square	Retail	68.75 sq m	(740 sq ft)	Individual (Dental Surgery)	10 years from 08/10/2012 to 07/10/2022	£7,549.90	07/10/2022
1-3 Westwood Square	Retail	121.00 sq m	(1,304 sq ft)	Individual	19 years from 27/11/2000 to 27/08/2020	£10,600	27/08/2020
11-13 Westwood Square	Hot Food Takeaway	129.97 sq m	(1,399 sq ft)	Mr Chipz Ltd	34 years from 28/05/1997 to 27/05/2031	£15,500 (6)	27/05/2031
17-21 Westwood Square	Hot Food Takeaway	240.15 sq m	(2,585 sq ft)	Individual	5 years from 01/12/2016 to 30/11/2021	£15,000	30/11/2021
2 Westwood Square	Retail	81.29 sq m	(875 sq ft)	Royal Bank of Scotland plc	32 years from 28/05/1990 to 27/05/2022	£3,100	27/05/2022
126-128 Westwood Square	Retail	78.32 sq m	(843 sq ft)	Individual	2 years from 04/05/2018 to 03/05/2020	£1,200	03/05/2020
Westwood Square	MOT Centre	975.29 sq m	(10,498 sq ft)	Spanners & Sparks EK Ltd	10 years from 23/06/2010 to 22/06/2020	£15,000	22/06/2020
5 Westwood Square	Retail	70.88 sq m	(763 sq ft)	Individual	17 years from 22/10/2002 to 21/10/2019	£5,000	21/10/2019
117-129 Westwood Square	Retail	273.04 sq m	(2,939 sq ft)	Strathaven Asthmatic Relief Action (7)	5 years from 19/11/2018 to 18/11/2023 (3)	£14,000 (2)	18/11/2023
26 Westwood Square	Retail	54.35 sq m	(585 sq ft)	Individual	4 years from 09/08/2014 to 30/06/2019	£4,500	30/06/2019
Westwood Square - Mast	Aerial			Telefonica UK Ltd	15 years from 25/11/2011 to 24/11/2026	£3,500	24/11/2026
9 Westwood Square	Hot Food Takeaway	53.51 sq m	(576 sq ft)	Individual	25 years from 28/05/1997 to 27/05/2022	£6,500	27/05/2022
22 Westwood Square	Retail	54.35 sq m	(585 sq ft)	YIFS Limited	5 years from 28/02/2018 to 27/02/2023 (5)	£4,500	27/02/2023
122 Westwood Square	Retail	22.95 sq m	(247 sq ft)	Vacant		£0
120 Westwood Square	Retail	22.95 sq m	(247 sq ft)	Vacant		£0
118 Westwood Square	Retail	22.95 sq m	(247 sq ft)	Vacant		£0
Totals		4,405.98 sq m	(47,426 sq ft)			£195,314.90

(1) As of July 2017, Betfred operates over 1,650 shops throughout the United Kingdom
(Source:- www.betfred.com).
(2) Strathaven Asthmatic Relief Action have a stepped rent. 19/11/2019-18/11/2020 - £15,000pa, 19/11/2020-18/11/2021 - £16,000pa, 19/11/2021-18/11/2022 - £17,000pa, 19/11/2022-18/11/2023 - £18,000.
(3) Strathaven Asthmatic Relief Action have a tenant only break option on 19/11/2020 with 6 months' prior written notice.
(4) Gerald Condron have a tenant only break option on 27/11/2021 with 6 months' prior written notice.
(5) YIFS Limited - Tenant break option on second anniversary of lease with 6 months' prior written notice.
(6) Mr Chipz Limited - 6 months rent free from 28/05/2021 to be taken as 3 months rent free from 28/05/2021 followed by 6 months half rent. Rent guaranteed by Antonino Patrick Barcella until 27/05/2021.
(7) Strathaven Asthmatic Relief Action - The lease is subject to a Schedule of Condition.