Auction House London

Lot 57

Retail Property (high street) - Commercial Property 

21 West Blackhall Street

Greenock, Renfrewshire, PA15 1UA

Withdrawn Prior

A Well Positioned Retail Investment Let to Bonmarché Limited Producing £38,000 per annum (Excluding VAT).

Description

The property comprises a mid terrace building arranged as a ground floor retail unit with ancillary accommodation to the first floor.

Tenure

Heritable

Location

The property is situated on a primary shopping parade in Greenock town centre and a short walk from Oakmall Shopping Centre. Nearby multiples include Yorkshire Building Society, Greggs and Iceland. Transport links are provided by both Greenock West and Greenock Central rail stations.

Note

The lease commencing April 2003 to April 2018 has been extended pursuant to a minute of variation to increase the lease by 5 years until April 2023 with the option to determine the lease in April 2021. The rent has been re-based from £65,000 per annum to £38,000 per annum (Ex VAT). The minute of variation includes a rent free period from April 2021 to July 2021 on condition that the tenant does not apply to determine the lease in April 2021.

VAT

VAT is applicable (TOGC available)

Addendum

Amended Guide Price: £275,000+

Accommodation & Tenancy Schedule

Floor Accommodation Tenancy Current
Annual Rent
Ground
First
Sales Floor Measuring Approx 3,007 sq ft (279.35 sq m)
Storage/Staff Area Measuring Approx 1,320 sq ft (122.63 sq m)
Let to Bonmarché Limtied on a 15 year FRI Lease from the 28th April 2003. (Extended for 5 years until April 2023).
NB: For the year ending 1st April 2017, Bonmarché Limited reported a turnover of £190,068,000, pre-tax profits of £5,719,000 and a net worth of £30,077,000 (Source: Experian Group February 2018).
£38,000 (Excl. VAT)

Additional Fees and Disclaimer

Administration charge: £1,500 including VAT unless otherwise stated in the addendum.

Buyers Premium and Disbursements: Please see the legal pack and the addendum for any disbursements and buyers premium that may be payable by the purchaser on completion.

Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve ( a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Particulars including images and video tours on the website and within the catalogue are believed to be correct but their accuracy is not guaranteed. The auctioneers will always endeavour to inform prospective purchasers of variations to the catalogue, when such changes are brought to their attention. The auctioneers nor their clients can be held responsible for any losses, damages, or abortive costs incurred in respect of lots that are withdrawn or sold prior to auction. Viewings are carried out by third party agents and we will endeavour to give appropriate notice should the published viewing time change. Auction House London will not be liable for any costs or losses incurred due to viewing cancellations or no shows. Information relating to Rating matters has been obtained by verbal enquiry only. Prospective purchasers are advised to make their own enquiries of the appropriate authorities. Prospective purchasers are deemed to verify for themselves whether tenanted properties are occupied and rents are being paid. All measurements, areas and distances are approximate only. Potential buyers are advised to check them. No representation or warranty is made in respect to the structure of any properties nor in relation to their state of repair. Prospective buyers should arrange for a survey of the particular lot by a professionally qualified person.

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For further information, please register for the legal pack. To speak to a member of our team about this lot, please call us on 020 7625 9007 or email us at info@auctionhouselondon.co.uk

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