OPENING BID

Timed Online Auction

18 June 2021, 10am-4pm

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  • TypeCommercial
  • Ownership Freehold
  • Occupation Tenanted
  • Rateable Value Search SAA

Description

Full Address: 15 Millbrae Road, Tesco Express, Langside, Glasgow, G42 9UA

*FREEHOLD TESCO STORE INVESTMENT* Impressive ground floor commercial/ retail unit with car park. Let to Tesco Stores Ltd until 2025 with passing rent of £69,556.33 per annum. *VAT FREE INVESTMENT*

IDEALLY LOCATED within affluent and densely populated residential area in Glasgow's Southside holding catchment for the popular suburbs of Shawlands, Battlefield, Mount Florida and Newlands. EXCELLENT TRADING LOCATION

EXCELLENT SIZE FOR TESCO STORE- 396.14sqm (4,264sq ft) and fitted out in accordance with Tesco corporate specification with loading and unloading and ATM on site.

GRADE A TENANT- Tesco PLC is the 3rd largest retailer in the world with a market share of almost 25% in the UK. With a revenue of almost £64 billion (2019) and an operating income of around £2.25billion in 2019.

The property was previously held on a ground lease which the vendor has now acquired the freehold rights thereto. As such the property is available on a freehold basis.

*FREEHOLD TESCO STORE INVESTMENT* Impressive ground floor commercial/ retail unit with car park. Let to Tesco Stores Ltd until 2025 with passing rent of £69,556.33 per annum. VAT FREE INVESTMENT. IDEALLY LOCATED within affluent and densely populated residential area in Glasgow's Southside holding catchment for the popular suburbs of Shawlands, Battlefield, Mount Florida and Newlands. EXCELLENT TRADING LOCATION. EXCELLENT SIZE FOR TESCO STORE- 396.14sqm (4,264sq ft) and fitted out in accordance with Tesco corporate specification with loading and unloading and ATM on site. GRADE A TENANT- Tesco PLC is the 3rd largest retailer in the world with a market share of almost 25% in the UK. With a revenue of almost £64 billion (2019) and an operating income of around £2.25billion in 2019. The property was previously held on a ground lease which the vendor has now acquired the freehold rights thereto. As such the property is available on a freehold basis.

The property is situated on the east side of Millbrae Road at its junction with Battlefield Road at the Battlefield monument, in Glasgow’s south side holding a catchment for a variety of affluent suburbs including Shawlands, Mount Florida and Langside. The property is situated within a densely populated residential area, opposite Queens Park, with neighbouring occupiers including National Tyres, Church on the Hill, Millbrae Hill Cafe and 1901 Bakery. The area is characterised by primarily residential dwellings with smatterings of various commercial outlets, with the former Victoria Infirmary Hospital site adjacent to the property, now undergoing extensive redevelopment to offer 335 new residential apartments.

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 25th Oct 2025
Rent: £69,556 per year / £5,796 per month
Yield: 7% (approx)
Tenant: Company
Notes: Tenant: Tesco Stores Limited Expiry: 25th October 2025 Passing Rent: £69,556.33p.a.

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Location

Pricing Information & Bidding

Opening Bid: £900,000

What is an Opening Bid? This property is entered into an online auction where the bidding will start or open at the above price. Unless specified all properties are subject to a Reserve (minimum acceptable price).

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Terms of Sale

  • 10% Deposit
  • Standard Completion
  • Buyers Fee = 2.5% of Sale Price (Minimum £2,500 + vat)

* STANDARD TERMS are 4 week completion with 1 week extension. Sellers can request a varied completion and buyers must satisfy themselves prior to bidding.

Auction Details

Date & Time: 18 June 2021, 10am-4pm
Type: Timed Online Auction

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