Tesco Express 165 North Street Glasgow G3 7DA

Tesco Express
165 North Street
Glasgow
G3 7DA

Heritable Supermarket Investment in Edge of City Centre Location

Let to Tesco Stores Ltd on a 15 year lease expiring 2025 (no breaks)
Tenant option to extend the lease by 15 years on expiry
RPI rental increases (estimated rent as at March 2012 of £59,785 p.a.x.) (3)
Prominent roadside location between the city centre and Glasgow’s affluent West End
Six Week Completion Period Available

Lot
5
Auction
24th May 2012
Rent
£55,000 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP

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Heritable Supermarket Investment in Edge of City Centre Location

Let to Tesco Stores Ltd on a 15 year lease expiring 2025 (no breaks)
Tenant option to extend the lease by 15 years on expiry
RPI rental increases (estimated rent as at March 2012 of £59,785 p.a.x.) (3)
Prominent roadside location between the city centre and Glasgow’s affluent West End
Six Week Completion Period Available

Lot 5
Auction 24th May 2012
Rent £55,000 per Annum Exclusive
Status Sold Prior
Price
Sector
Supermarket/Convenience
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 0.25 miles west of Glasgow city centre
Roads: M8 (connects to Glasgow Airport and Edinburgh), A814 Clydeside Expressway (Junction 13)
Rail: Charing Cross low level Railway Station (direct to Glasgow Central and Queen Street)
Air: Glasgow International Airport

Situation

The property is situated on North Street beside the M8 motorway and between the main city centre junctions 18 and 19. The property benefits from its proximity to the surrounding area’s residential population and the western city centre office area.
There is on-street parking outside the property and a multistorey car park on Elmbank Crescent, Charing Cross.

Tenure

Heritable. (Scottish Equivalent of English Freehold)

Location

Miles: 0.25 miles west of Glasgow city centre
Roads: M8 (connects to Glasgow Airport and Edinburgh), A814 Clydeside Expressway (Junction 13)
Rail: Charing Cross low level Railway Station (direct to Glasgow Central and Queen Street)
Air: Glasgow International Airport

Situation

Tenure

Heritable. (Scottish Equivalent of English Freehold)

Description

The property comprises a ground floor open plan retail unit with prominent frontage onto North Street and Kent Road.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a ground floor open plan retail unit with prominent frontage onto North Street and Kent Road.

VAT

VAT is applicable to 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	Reviews
Ground	Retail	454.32 sq m	(4,890 sq ft)	TESCO STORES LTD (1)	15 years from 19/04/2010 until 19/04/2025 (2)	£55,000	19/04/2015 and 19/04/2020 (3)
Totals		454.32 sq m	(4,890 sq ft)			£55,000

(1) For the year ending 26th February 2011, Tesco Stores Ltd reported a turnover of £40,149,000,000, pre-tax profits of £2,243,000,000 and a net worth of £6,654,000,000 (Source: Experian 24/02/2012).
(2)There is a tenant option to extend the lease by 15 years upon expiry.
(3)The rent is subject to RPI linked rent reviews in years 5 and 10. Based on the most recent RPI data (March 2012) this would reflect a current rent of £59,785 per annum (Source: www.statistics.gov.uk).