Retail Property (High Street) in Glasgow
15 Millbrae Road, Glasgow, G42 9UA
- Lot No: 2
- Property Type: Retail Property (High Street)
- Contract Type: Unconditional
Guide Price* £990,000+ plus fees
The subjects consist of part of the ground floor of a Category ‘C’ listed building with dedicated parking for 8 cars. Internally, the property extends to a main sales area with storage and dedicated staff space to the rear. The condition and decoration of the subjects is in keeping with the current tenants corporate fit out and includes the incorporation of an ATM.
Located within the Battlefield area, a popular and affluent suburb within the South Side of Glasgow. The subjects occupy a prominent position on Millbrae Road, which serves as a main arterial route within the South Side. As such the subjects benefit from high volumes of passing footfall and vehicular traffic. The subjects are situated adjacent to Sanctuary Housing’s new residential development which will provide more than 200 residential homes to the local area.
The property is let to Tesco Stores Ltd on a 15 year Full Repairing and Insuring lease from 26/10/10 until 25/10/2025. The current passing rent is £69,556 per annum.
The tenant benefits from a 5A1 covenant. For the year ending February 2018 Tesco Stores Limited reported a turnover in excess of £41.36bn, a pre-tax profit of £1.66bn and a net worth of £4.07bn.
The subjects are currently entered into the Valuation Roll as follows: Ground Floor Retail - £37,250 ATM – £11,375 The rate poundage for 2020/2021 is £0.498 to the pound.
Ground Floor: 396.14 sq m (4264 sq ft) The forgoing areas have been calculated on a gross internal area basis in accordance with the code of measuring practice (6th edition) as prepared by the RICS.
We understand that the property has Planning Consent for Class 1. The property may suit alternative uses subject to obtaining all necessary planning consents. It will be incumbent upon any tenant to satisfy themselves in this respect.
The buyers fee on this lot is £1074 inc VAT
Rights of Way, Wayleaves, Easements, Restrictive Covenants Etc.
The site is sold subject to or with the benefit of any Rights of Way, Wayleaves, Easements, Restrictive Covenants, which may exist whether mentioned in these particulars or not. For further information in relation to these matters please refer to the legal pack.
See Legal Pack
Date 09th December 2020
Venue Shepherd Commercial Property Auction
The auction will be conducted by our auctioneer, Andrew Parker, behind closed doors and broadcast live online with remote bidding only. Please click here to submit a bid, www.sdlauctions.co.uk/remote-telephone-proxy-bidding
If you have any questions, call our team on 0345 222 0197