Lot 1n

Guide Price: £106,000 - Bid Now

80 Union Street, Larkhall, ML9 1DR


Key Features:

PRIME COMMERCIAL INVESTMENT let to 'BRITISH RED CROSS' on a full repairing and insuring lease from 2009 until 27 February 2019. Rent £9750 p.a (reduced to £8500 p.a till Feb 2019) Low rent scope to increase towards £12,000 p.a in 2019 ***Next to LLYODS PHARMACY, TSB facing GREGGS & BOOTS.****


  • The property has been occupied by British Red Cross for 8 years and they trade very well. FRI Lease £9750 pa reduced to £8500 p.a till 27 Feb 2019. Therefore low rent in super spot adjacent Optical Express, Lloyds Pharmacy TSB facing Greggs SUPER NATIONAL TENANT The British Red Cross has an annual income of over £250m and employs over 4,000 people.
  • SUPER COVENANT British Red Cross reported total funds of £135,000,000. (Source: www.redcross.org.uk 02/2016). The British Red Cross are a part of the International Red Cross and Red Crescent Movement, the world’s largest independent humanitarian network with 189 Societies around the world and 97 million members and volunteers worldwide.
  • REFURBISHED PROPERTY - EXCELLENT SIZE and well fitted with front shop, rear shop and storage. 100% prime income producing investment with national tenant and well fitted out refurbished. Ideal long term investment purchase.
  • Larkhall has a population of approximately 15,000 persons and is located within the South Lanarkshire local authority region approximately 14 miles south-east of Glasgow City Centre.

Description:

PRIME COMMERCIAL INVESTMENT let to 'BRITISH RED CROSS' on a full repairing and insuring lease from 2009 until 27 February 2019. Rent £9750 p.a (reduced to £8500 p.a till Feb 2019) Low rent scope to increase towards £12,000 p.a in 2019 ***Next to LLYODS PHARMACY, TSB facing GREGGS & BOOTS.**** The property has been occupied by British Red Cross for 8 years and they trade very well. FRI Lease £9750 pa reduced to £8500 p.a till 27 Feb 2019. Therefore low rent in super spot adjacent Optical Express, Lloyds Pharmacy TSB facing Greggs SUPER NATIONAL TENANT The British Red Cross has an annual income of over £250m and employs over 4,000 people. SUPER COVENANT British Red Cross reported total funds of £135,000,000. (Source: www.redcross.org.uk 02/2016). The British Red Cross are a part of the International Red Cross and Red Crescent Movement, the world’s largest independent humanitarian network with 189 Societies around the world. REFURBISHED PROPERTY - EXCELLENT SIZE and well fitted with front shop, rear shop and storage. Larkhall has a population of approximately 15,000 within the South Lanarkshire local authority region approximately 14 miles south-east of Glasgow City Centre. 100% prime income producing investment with national tenant and well fitted out refurbished. Ideal long term investment purchase.

Location:


Larkhall has a population of approximately 15,000 persons and is located within the South Lanarkshire local authority region approximately 14 miles south-east of Glasgow City Centre. Union Street is the principle shopping street of the town and the subjects occupy a highly prominent position within its prime section where neighbouring occupiers include Greggs, Lloyds Pharmacy, Coral, Farmfoods and Optical Express.

Rateable Value:


CLICK HERE to visit the Scottish Assessors Association Website & automatically search this property's postcode for values. The Scottish Assessors’ Portal provides details of Council Tax Bands and Rateable Values for all properties in Scotland.

Plan:


Ownership & Occupation:


Ownership

Freehold

- Outright ownership of the property and land on which it stands.
Occupation

Tenanted

- Existing tenant in place with lease agreement to be assigned to the new purchaser at the time of completion.

Tenancy Details:


Type of Agreement Full Repairing & Insuring (FRI)
Length 10 Years
Rent £9,750 per year / £813 per month
Yield 9.2% (at guide price)
Tenant Company
Notes: SUPER COVENANT British Red Cross reported total funds of £135,000,000. (Source: www.redcross.org.uk 02/2016).

Enhanced Buying Terms:


Discounted Buyers Fee £1,200 (inc vat)

Guide Price: £106,000 - Bid Now


Auction Guide Prices are displayed as an indication of each seller's approximate sale 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 no more than 10% above or below the advertised guide price.

Bid Now Explained:


You may submit an offer now on any of our live properties for the sellers to consider. If they are will are willing to sell you the property now then it is a matter of making the required deposit payment to secure the purchase. Complete our ONLINE OFFER FORM now to put your offer forward to the sellers.











Internal Open Viewings:


This property may be open for internal viewings at specified times which will be listed on this page when available. You do not need to register to attend these viewings, you can simply turn up as the property will be open during the scheduled times. Our viewing agent will be present to answer any of your questions and provide auction catalogues to viewers.

External Viewings Anytime:


You may view this property externally at any time. Please make sure that if the property is occupied or tenanted that you respect the privacy of the occupants. Additionally we advise that you print a copy of this schedule and take it with you in case of any neighbours questioning you at the property as to your intentions.


















Offer Now:

You may submit an offer now on any of our live properties for the sellers to consider. If they are will are willing to sell you the property now then it is a matter of making the 10% deposit payment to secure the purchase. Complete our ONLINE OFFER FORM now to put your offer forward to the sellers.

Bid Live in Person:

Easily the best method is to attend the auction in person. The Glasgow Radisson is conveniently located in the Glasgow City Centre, a short walk from the Central Train Station and easily accessed from the M8 Motorway. The Edinburgh Marriott Hotel is conveniently located just minutes from Edinburgh Airport and the city centre.

Bid by Phone Live:

If you cant make the auction in person you can still make a live bid by telephone for this property. You will give instruction live over the phone with one of our staff in the room who will bid on your behalf and relay activity in the auction room. To register simply print off, complete and return the below form by email prior to 5pm of the auction day...

Proxy & Phone bidders phone... Download the Telephone Bidders Form

Bid by Proxy: (Ebay Style Highest Bid)

This is another option if you cannot make the auction in person. A Proxy bid is where you will leave your highest maximum bid for the property and the auctioneer will bid on your behalf. You will only ever bid one increment higher than the previous bidder. Proxy bidding rules out any potential issues with telephone reception or nerves regarding bidding in person or by telephone. To register simply print off, complete and return the below form by email prior to 5pm of the auction day...

Proxy & Phone bidders phone... Download the Proxy Bidders Form







  • Auction Date:

    05 February 2018


  • Start Time:

    7.00pm


  • Auction Location:

  • Glasgow Radisson Hotel

  • 301 Argyle Street, G2 8DL


Directions:


View a Map & Directions to the Auction Venue.
Glasgow Radisson | Edinburgh Marriott


Registration:

You will need to be at the auction prior to the 7.00pm start time in order to register & make your way to the auction room. Bidding registration opens from 6:00pm. You will be required to present Photo ID and provide your contact and solicitor details in order to register.

Legal Packs:

All legal packs will be available for inspection at our offices on the day of the auction and at the auction hall from 6:00pm.

Deposits:

If you are a successful purchaser of a lot then a deposit of 10% (minimum £3,000 or lower if specified) will be required. The deposit is accepted by the following methods:

Deposit Method:

Switch, Debit Card, Credit Card, Cash or Bankers Draft accepted only. Next Day Bank Transfer by prior arrangement only.