Heritable Bank Investment
Heritable Bank Investment
Hamilton is the county town of Lanarkshire and has strong communications via the M74. The property is situated in the town centre, opposite the entrance to New Cross Shopping Centre, on the pedestrianised Quarry Place. Nearby occupiers include Optical Express, Lloyds Pharmacy, Argos and Primark.
Heritable. (Scottish equivalent to English Freehold)
Hamilton is the county town of Lanarkshire and has strong communications via the M74. The property is situated in the town centre, opposite the entrance to New Cross Shopping Centre, on the pedestrianised Quarry Place. Nearby occupiers include Optical Express, Lloyds Pharmacy, Argos and Primark.
Heritable. (Scottish equivalent to English Freehold)
The property comprises a banking hall on the ground floor with offices and ancillary accommodation on the lower ground floor.
VAT is not applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
The property comprises a banking hall on the ground floor with offices and ancillary accommodation on the lower ground floor.
VAT is not applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
Floor |
Use |
Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Reviews | |
|---|---|---|---|---|---|---|---|
| Ground Lower Ground |
Banking Hall Office and Ancillary |
174.66 sq m 127.28 sq m |
(1,880 sq ft) (1,370 sq ft) |
LLOYDS TSB SCOTLAND PLC (1) |
15 years from 06/09/2010 until 2025(2) |
£50,000 (3) | 06/09/2016 |
| Totals | 301.94 sq m |
(3,250 sq ft) |
£50,000 | ||||
(1) For the year ending 31/12/2011, Lloyds TSB Scotland plc reported pre-tax profits of £161,800,000 and a total net worth of £815,500,000 (Source: www.riskdisk.com 12/09/2011).
(2) The lease provides for a tenant option to break at the end of the twelfth year of the term with 6 months' notice.
(3) The lease provides for a rent free period until 5th September 2012. The seller will pay the buyer a sum equivalent to the rent that would have been payable in the absence of the rent free period on completion of the sale. Therefore, the property will produce an income of £50,000 per annum exclusive from completion of the sale.
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