- Prominent Town Centre Location
- Let to William Hill Organization
- Accessed From Broompark Rd & Main St
- Passing Rent of £XXXp.a.x.
- 2016 Rent Review Outstanding
- O/O £XXX (Representing a G.I.Y. 8.6% - Initial Reversionary Yield Potential of 12.1%)
Location
The subjects are located on the West side of Broompark Road with alternative entrance on the North side of Main Street in a prime position within the town centre of High Blantyre. The subjects lie to the South of Blantyre itself approx 2.5 miles North East of Hamilton and 5miles from East Kilbride. The area is well supported by transport links accessible from the East Kilbride Expressway along with multiple public transport links in close proximity.
Neighbouring occupiers include Gilbrides Pharmacy, Shanghai Wok, Blakey’s Bar, Gino’s Fish & Chicken and Blantyre Tyre Services.
Subjects
The subjects comprise a mid-terrace ground floor retail unit within a larger 2 storey traditional tenement surmounted by a pitched roof overlaid in slate. The subjects benefit from a single storey extension facing onto Broompark Road with dedicated private parking, with secondary frontage onto Main Street.
The facade on Main Street offers a single aluminium framed display window with access gained via a recessed aluminium framed glazed heavy door leading to the main open plan sales area, with the access from Broompark Road via a single aluminium framed glazed door from the car park.
Internally the subjects have been recently refurbished to a high standard with heating and cooling provided by air conditioning vents recessed with the suspended acoustic tile ceiling, floor coverings are a mixture of ceramic tile with the main thoroughfares of the unit with thick commercial carpet tile within the seated betting areas. The subjects offer customer / disabled w.c. facilities with partitions erected to form staff counter, tea prep, office and w.c. facilities.
Area
The subjects have been measured on a Net Internal Area basis to offer:
1-3 Broompark Rd: 98.12sqm (1,056sq ft)
250 Main St: 168.39qm (1,813sq ft)
Total: 266.51sqm (2,869sq ft)
Investment
The subjects are let by way of a full repairing and insuring lease open the following terms;
Tenant: William Hill Organisation Ltd - The company is a subsidiary of William Hill Plc being one of the worlds leading betting and gaming companies. Employing more than 16,XXXeople in 9 countries it is the UK’s largest land-based bookmaker with 2,375 licensed shops in the U.K. For further financial information please visit williamhillplc.com
Term: 20 years from 19/12/2006 - 18/12/2026
Rent: £XXXp.a.x.
Review: A rent review from 19/12/2016 is still outstanding with an upcoming rent review due in 19/12/2021. We would anticipate a current E.R.V of c.£XXXp.a.
Proposal
Our client is offering their freehold interest in the subjects for offers over £XXX representing a Gross Initial Yield of 8.6%. We envisage an outstanding rent review increase to c. £XXXper annum representing a potential reversionary gross yield of 12.1%
V.A.T.
Prices quoted are exclusive of V.A.T.
E.P.C.
Available on application
Legal
Each party shall bear their own legal costs incurred in the transaction
Viewing
The subjects can be viewed at any time during regular business hours, detailed viewings can be made by appointment via the sole marketing agent