1265/1179 Gallowgate Glasgow G31 4EB

1265/1179 Gallowgate
Glasgow
G31 4EB

Freehold Industrial Investment

Includes a carwash with a small warehouse and a larger separately accessed warehouse building
Prominent location adjacent to Parkhead Forge Shopping Centre and Forge Retail Park
Nearby occupiers include B&M Home Store, Pets at Home, Tesco Extra, B&Q, Next, McDonald's and Asda Superstore.

Lot
29
Auction
23rd September 2020
Rent
£47,000 per Annum Exclusive
Status
Sold Post
Price
Auction Venue
Live Streamed Auction

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Freehold Industrial Investment

Includes a carwash with a small warehouse and a larger separately accessed warehouse building
Prominent location adjacent to Parkhead Forge Shopping Centre and Forge Retail Park
Nearby occupiers include B&M Home Store, Pets at Home, Tesco Extra, B&Q, Next, McDonald's and Asda Superstore.

Lot 29
Auction 23rd September 2020
Rent £47,000 per Annum Exclusive
Status Sold Post
Price
Sector
Industrial, Warehouse
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 2 miles east of Glasgow City Centre
Roads: A728, A74, M8, M74
Rail: Duke Street Rail Station
Air: Glasgow Airport

Situation

The property is prominently situated in a predominantly industrial and retail area on the north side of Gallowgate Road, adjacent to the popular Parkhead Forge Shopping Centre and Forge Retail Park. Nearby occupiers include B&M Home Store, Pets at Home, Tesco Extra, B&Q, Next, McDonald's and Asda Superstore.

Tenure

Heritable.

Location

Miles: 2 miles east of Glasgow City Centre
Roads: A728, A74, M8, M74
Rail: Duke Street Rail Station
Air: Glasgow Airport

Situation

Tenure

Heritable.

Description

The property comprises a car dealership and small warehouse with a separately accessed warehouse building at the rear. The warehouse at the rear is a single storey industrial building of brick construction with a steel portal frame, with a roller shutter door and an eaves height of 3.25 metres.

Note

VAT is applicable to part of the property.(See Special Conditions of Sale)

Completion Period

Six Week Completion

EPC

See legal pack.

Description

Note

VAT is applicable to part of the property.(See Special Conditions of Sale)

Completion Period

Six Week Completion

EPC

See legal pack.

Tenancy & Accommodation

Accommodation	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews/ (Reversion)
1265 Gallowgate	Warehouse	792.53 sq m	(8,531 sq ft)	SIG TRADING LIMITED(1)(2)(3)	13 years from 29/09/2010 to 28/09/2023 on FRI terms	£29,190	28/09/2023
1179-1195Gallowgate	Warehouse	344.38 sq m	(3,707 sq ft)	STAR FIT LIMITED(4)	From 01/05/2019 to 27/03/2029 on FRI terms	£18,500	28/09/2023(5) 28/09/2023, 28/09/2026 (6)
Totals		1,136.91 sq m	(12,238 sq ft)

(1) For the year ending 31st December 2018, SIG Trading Limited reported a turnover of 1,112,000,000, a pre-tax profit of 2,000,000 and shareholder funds of 260,000,000 (Source: SmartSearch 05/08/2020).
(2) There is a sublease in place to Changeworks Recycling Ltd from November 2019 until 23/07/2023. This sublease is subject to a schedule of condition between the head tenant and subtenant
(3) This is an FRI lease but subject to a photo schedule of condition
(4) A personal guarantee of all payments and obligations of the tenant company under the lease has been provided by a director of Star Fit Limited
(5) There is a landlord only break option on 28th September 2023
(6) There will be a rent review on 28/09/2023 and 28/09/2026

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.