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Retail Investment, 45/45A Neilsland Road, Hamilton, ML3 8NA

4,016 Sq Ft / Retail / Investment

Withdrawn - Last updated: 16 November 2016

The subject property comprises a detached double unit over ground and basement floors and is of traditional construction under a flat bitumen felted roof with a large undeveloped site to rear.

Location

The town of Hamilton is situated approximately 12 miles south east of Glasgow and is accessible via the M8 Motorway. The subject property is located in the Fairhill district of Hamilton on Neilsland Road approximately 2 miles south west of Hamilton Town Centre. The surrounding area is primarily housing with a Community Centre close by.

Accommodation

We have measured the premises in accordance with the RICS Code of Measuring Practice 2007 (Sixth Edition) and estimate that the subjects extend to the following areas:
 
45A Neilsland Road - 816 sq ft
45 Neilsland Road Ground Floor - 1,200 sq ft
Basement - 2,000 sq ft
Total Areas - 4,016 sq ft

Terms

TENURE
The property is held on a heritable title (Scottish equivalent of Freehold).
 
TENANCY
The property is let on 2 leases to William Hill Organisation Limited on full repairing and insuring leases. No. 45 Neilsland Road is sub-let to The Duke Inn.
 
Rent
45A Neilsland Road - £XXX per annum
45 Neilsland Road - £XXX per annum
Total Rent - £XXX per annum
 
Rent Reviews
45A Neilsland Road Subject to rent reviews as at 20 December 2015 and 20 December 2020
45 Neilsland Road Subject to rent reviews as at 9 December 2018 and 9 December 2023
 
Covenant Information
William Hill Organisation Limited is the retail arm of William Hill plc one of the largest bookmakers in the United Kingdom with around 2400 shops in the UK. For the year to 1 January 2013, the operating profit for William Hill Organisation was £XXXm. The group’s operating profit for the same period was £XXXm with net revenue of £XXXbn. Further information is available at www.williamhillplc.com.
 
EPC
A copy of the EPC can be provided on request.
 
VAT
The property has been elected for VAT and therefore VAT will be applicable to the sale. We assume that the purchase can be enacted by way of a Transfer of a Going Concern (TOGC).

Specification

  •  Passing rent of £XXX per annum
  •  Net initial yield of 7.34%
  •  Let to William Hill Organisation Ltd
  •  Lease expires 19 December 2025
  •  Provision for Rent Reviews in 2015, 2018, 2020 and 2023
  •  Opportunity to acquire a reversionary fully let investment with over 11 years unexpired


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