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Bank Investment For Sale , 20 Quarry Place, Hamilton, ML3 7BB

not specified / Retail / Retail - High Street

For Sale - £399,999.00

Available - Last updated: 26 January 2021

The subject property comprises a 1960's building of masonry construction arranged over ground and lower ground floors. Offering Class 1 or Class 2 accommodation within. Internally the subjects present as a traditional high street bank with back of house and office functions operating to the rear of the subjects.

The subjects have been the historic home of Lloyds TSB, now TSB Bank in Scotland since 1996. While TSB have downsized their high street offerings substantially, 20 Quarry Place has been retained to provide the necessary point of contact for their local customers.
( Agency Pilot Software Ref: 49508 )

Location

Hamilton is a large town with a population of around 50,000 people and a catchment estimated to be 350,000. It serves as the main administrative centre for the South Lanarkshire Council area and is located around 15 miles to the south east of Glasgow city centre.

The town benefits from excellent transport links and has two railway stations which both provide access to Glasgow’s Central Station. There is also a major bus terminus in the town centre. The subject property is located in a prime position in the heart of the city centre. As such, transport linked are superb, with both Hamilton Train and Bus Stations less than a 5 minute walk from the subjects. Extensive parking is also located within the New Cross Shopping Centre, which is immediately accessible from the subjects.

Accommodation

TOTAL: 366.13 sq.m (3,941 sq.ft)

Terms

PROPOSAL Offers in excess of £425,000 aresoughtreflecting a Net Initial Yield of 9.04% assuming standard purchasers costs of4.09%.

RATING ASSESSMENT We understand that the premises have the following rateable value: - Bank - £30,250

VAT Unless otherwise stated all figures, prices, etc., are quoted exclusive of VAT.

TENURE The Vendor is selling the Heritable Title (Scottish Equivalent to English Freehold)

LEGAL COSTS Each party will bear their own legal costs in respect of any transaction of this site, however for the avoidance of doubt the purchaser will be responsible for LBTT, Extract copies and VAT thereon.

ENERGY PERFORMANCE CERTIFICATE A copy of the EPC certificate is available upon reques

Specification

• Single let investment to TSB BANK PLC
• Hamilton's only TSB Branch
• Lease expiry 5th September 2025
• Rent re-based to - £40,000 per annum
• Offers over £425,000 reflecting an attractive NIY of 9.04%

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
  For Sale Freehold £399,999.00 NA

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Mark Gillies

Graham + Sibbald

0141 432 1220



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