Heritable (Scottish Equivalent of English Freehold) Trade Counter Investment
Let to Multi Tile Limited (t/a Topps Tiles) until 2018
Prominently located on one of Glasgow's main arterial routes
Nearby occupiers include Halfords, Crown, Jewson, Booker, Howdens, Tilemania and HSS
Lot 38
Auction 27th May 2010
Rent £69,600 per Annum
Status Sold
Price £850,000
Sector Retail Warehouse
Auction Venue Millennium Hotel 39-44 Grosvenor Square Mayfair London W1K 2HP
Property Information
Location
Estimated District Population
1,200,000 (Greater Glasgow)
Miles
?3 miles south-east of Glasgow city centre
1 mile north-west of Rutherglen town centre
Roads
A730, M74
Rail
Rutherglen and Dalmarnock suburban stations
Air
Glasgow International Airport
Situation
The property is prominently situated on the northern end of the A730 (Glasgow Road) at its junction with Rutherglen Road in an established trade counter and industrial location. The property will benefit from the M74 extension which is scheduled for completion in 2011. The Polmadie Junction will be located a short distance from the property and will provide excellent access to the national motorway network.Nearby occupiers include Halfords, Crown, Jewson, Booker, Howdens, Tilemania and HSS.
Tenure
Heritable.
Location
Estimated District Population
1,200,000 (Greater Glasgow)
Miles
?3 miles south-east of Glasgow city centre
1 mile north-west of Rutherglen town centre
Roads
A730, M74
Rail
Rutherglen and Dalmarnock suburban stations
Air
Glasgow International Airport
Situation
The property is prominently situated on the northern end of the A730 (Glasgow Road) at its junction with Rutherglen Road in an established trade counter and industrial location. The property will benefit from the M74 extension which is scheduled for completion in 2011. The Polmadie Junction will be located a short distance from the property and will provide excellent access to the national motorway network.Nearby occupiers include Halfords, Crown, Jewson, Booker, Howdens, Tilemania and HSS.
Tenure
Heritable.
Description
The property comprises a MODERN TRADE COUNTER UNIT with in situ concrete floors, and benefits?from two loading doors and approximately 21 dedicated car parking spaces. The site extends to approximately 0.222 hectares (0.548 acres). VATVAT is applicable on this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a MODERN TRADE COUNTER UNIT with in situ concrete floors, and benefits?from two loading doors and approximately 21 dedicated car parking spaces. The site extends to approximately 0.222 hectares (0.548 acres). VATVAT is applicable on this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Ground
Trade Counter
699.45 sq m
(7,529 sq ft)
MULTI TILE LIMITED (t/a TOPPS TILES) (1)(2)
25 years from 31/12/1993 (3)
£69,600
Totals
699.45 sq m
(7,529 sq ft)
£69,600
(1)?The property is let to Multi Tile Limited (t/a Topps Tiles) by assignation registered on 12th April 2006 from Goodyear Great Britain Limited (now Goodyear Dunlop Tyres UK Limited). (2)?Multi Tile Limited is a trading subsidiary of Topps Tiles plc. Topps Tiles opened its first outlet in 1963 and is now Britain's biggest tile and wood flooring specialists group with over 250 stores throughout the UK and another 20 opening each year. (Source: www.toppstiles.co.uk) For the year ending 27th September 2008 Multi Tile Limited reported a total turnover of ?23,977,000, pre-tax profits of ?12,521,000 and a net worth of ?123,873,000.(Source: Experian Credit Check Report as published by Scottish Property Network 29/04/2010) (3)?The property is let generally on FRI terms (however please refer to clauses 4.10 and 4.12 of the Articles).
