Retail/Leisure opportunity within East Kilbride Town Centre either to let or may sell.
Location
East Kilbride is Scotland’s sixth largest town and is located around ten miles south east of Glasgow. The town has a residential catchment of around 1.7 million due to its proximity to Glasgow and the surrounding Lanarkshire Council area.
The site occupies a highly prominent corner position located adjacent to The Central Roundabout, to the north-east of East Kilbride Shopping Centre which is the largest under-cover Centre in Scotland and the 17th largest shopping centre in the UK. East Kilbride Bus Station is located adjacent which leads to the Shopping Centre’s east entrance and South Lanarkshire’s Civic Centre is directly opposite.
Current occupiers within East Kilbride Shopping Centre include Odeon Cinema and Sainsbury’s in close proximity to the site. The entire centre is location to over 180 national and local retailers including Debenhams, Primark and Marks and Spencer. The centre also benefits from dedicated parking for over 3,000 cars.
There are a large number of residential dwellings within walking distance of the centre and public underpasses allow traffic-free access. There is an underpass directly adjacent to the subject site which provides access to the affluent Avondale area which is predominantly made of residential dwellings and a large number of new-build residential apartments as well St Andrew’s and St Bride’s High School.
Accommodation
The site comprises a large corner site extending to approximately 1,420 sq m (15,283 sq ft) with potential for a multi-storey unit of minimum 3,000 sq m (32,300 sq ft) in terms of gross internal area. The location benefits from extensive frontage to, and direct access from, The Central Roundabout which is the principal connection for all arterial roads into East Kilbride town centre.
Terms
LEASE
A new Full Repairing & Insuring Lease is available for a new purpose built retail unit or units for a period to be agreed. Our client may consider disposal of the heritable (freehold) interest in the site.
PLANNING & LICENSING
Previously the site of a hotel, the site is suitable for various commercial, retail and leisure uses subject to planning permission. Detailed planning consent was previously granted for a multi-storey hotel incorporating bars and restaurants and the local Planning Authority have been supportive of proposed uses which are complementary to the town centre. Our client is willing to construct a retail unit built to shell specification for ingoing tenants.
RATEABLE VALUE
The premises will be assessed following occupation. The tenant will be responsible for paying business rates.
EPC
Upon completion, the property will be required to be assessed for Energy Performance reading.
LEGAL COSTS
Each party will be responsible for their own legal costs. Assignees or subtenants will be responsible for any Stamp Duty Land Tax, registration dues and VAT.
SERVICE CHARGE
The site and future buildings are independent of the adjoining shopping centre and any service charges will be limited to this site only.