The subjects comprise a vacant, former industrial complex known as Rosebank Works, spread over 5 main buildings, in various states of disrepair. Sitting to the front of the former Hoover factory site, where residential development is envisaged, the site is zoned for retail development as part of a masterplan within the adopted Local Plan (May 2009 – policy STRAT8). Sainsbury’s had identified the opportunity for 100,000 sq ft in the location, but due to rationalisation, will no longer be proceeding.
Bounded by both Bridge Street and Somervell Street, the site presents a development opportunity, either in isolation or in conjunction with adjacent land. Alternatively, the site could continue in industrial/storage usage in the short term, with the potential development deferred until a later date. Our clients invite proposals to purchase the entire works, conditional on as few matters as possible.
Location
Cambuslang is recognised as one of Glasgow’s best industrial locations, located 6 miles east of the City Centre, accessed from Jcts 2a and 3 of the M74, providing good access to the Central Belt and further afield. Bridge Street is a prinicipal route from the motorway in to Cambuslang Main Street, where the core shopping area and the train station are located.
Accommodation
The site comprises two principal industrial buildings, two office buildings and various other smaller sheds. Extensive car parking and loading areas are also provided.
Building 1 Former Grid Shop - 6,434 sq ft
Building 2 Office, two storey - 1,500 sq ft
Building 2a Office, single storey - 4,800 sq ft
Building 3 Main Shed - 12,832 sq ft
Building 3a Industrial - 10,281 sq ft
Building 4 Sheds - 9,131 sq ft
Building 5 Garage -
Note - the areas and heights are provided from historic records and interested parties are encouraged to undertake their own measurements to verify accuracy. The buildings have been extensively vandalised. Electricity and gas connections have been removed.
Terms
RATEABLE VALUES
The property is listed at www.saa.gov.uk in two separate assessments.
Office Rateable Value - £XXX
Industrial Rateable Value - £XXX
Rates poundage (‘14/15) XXX, excluding large property supplement. Vacant property relief, at 100%, applies to the industrial section, whilst the offices are charged at a 10% discount.
TERMS
Offers in excess of £XXX are invited. VAT is not currently chargeable on the purchase.
LEGAL COSTS
Each party will be responsible for their own legal costs. However, the purchaser will be responsible for any registration fees and SDLT/LBTT applicable, together with any VAT payable.
VAT
For the avoidance of doubt, all prices are quoted exclusive of VAT at the prevailing rate. Prospective tenants must satisfy themselves independently as to the incidence of VAT in respect of this transaction.