18 Montrose Street Glasgow G1 1RE

18 Montrose Street
Glasgow
G1 1RE

Heritable Retail Investment

Let to Fourworks Limited (ultimately partly owned by Sports Direct) on a 10 year lease until 2025 (no breaks)
Tenant in occupation for over 9 years
Open Market Rent review March 2020
City Centre Location
Nearby occupiers in the Merchant City include Hugo Boss, Bang and Olufsen, Bose, Ralph Lauren and Belstaff

Lot
35
Auction
11th December 2019
Rent
£65,000 per Annum Exclusive
Status
Sold
Price
£670,000
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN

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Heritable Retail Investment

Let to Fourworks Limited (ultimately partly owned by Sports Direct) on a 10 year lease until 2025 (no breaks)
Tenant in occupation for over 9 years
Open Market Rent review March 2020
City Centre Location
Nearby occupiers in the Merchant City include Hugo Boss, Bang and Olufsen, Bose, Ralph Lauren and Belstaff

Lot 35
Auction 11th December 2019
Rent £65,000 per Annum Exclusive
Status Sold
Price £670,000
Sector
High Street Retail
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN

Property Information

Location

Miles: 47 miles west of Edinburgh
Roads: M8
Rail: Glasgow Central Station, Glasgow Queen Street Station
Air: Glasgow International Airport (9 miles west)

Situation

The property is located on the east side of Montrose Street at the junction of Cochrane Street in the fashionable Merchant City District of Glasgow City Centre, some 700 metres east of Glasgow Central Railway Station. Merchant City is home to luxury brands such as Versace, Emporio Armani, Hugo Boss, Bang and Olufsen, Bose, Ralph Lauren, Mulberry and Agent Provocateur.

Tenure

Heritable. (Scottish equivalent of Freehold)

Location

Miles: 47 miles west of Edinburgh
Roads: M8
Rail: Glasgow Central Station, Glasgow Queen Street Station
Air: Glasgow International Airport (9 miles west)

Situation

Tenure

Heritable. (Scottish equivalent of Freehold)

Description

The property comprises ground floor and lower ground floor retail accommodation which forms part of a larger building.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Available from the legal pack at acuitus.co.uk

Description

The property comprises ground floor and lower ground floor retail accommodation which forms part of a larger building.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Available from the legal pack at acuitus.co.uk

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/ (Reversion)
Ground Lower Ground Lower Ground	Retail Retail Ancillary	232.19 sq m 87.61 sq m 49.31 sq m	(2,499 sq ft) (943 sq ft) (531 sq ft)	18MONTROSE RETAIL LIMITED (owned by Sports Direct.com Retail Limited) t/a 18montrose (1)	10 years from 19/03/2015 on a full repairing and insuring lease	£65,000	19/03/2020 (18/03/2025)
Totals		369.11 sq m	(3,973 sq ft)			£65,000

(1) Fourworks Limited (CRN 04072928) are owned by Four (Holdings) Limited (CRN 04225618) who are in turn, partly owned by Sports Direct. ***Charles please confirm precise name and CRN of the sports direct ownership*** For the year ending 31st December 2018, Fourworks Limited reported a turnover of £19,862,347, a pre-tax profit of negative £1,024,094 and a net worth of £2,388,721 (Source: Experian Group 05/11/2019). Current management accounts are available to inspect within the legal pack which is available at acuitus.co.uk.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.