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Battlefield Road

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Battlefield Road • Let to Sainsbury’s Supermarkets Battlefield Road Limited • 7 Years unexpired Lease term • 10-year Tenant option to extend Glasgow, G42 9JT • Busy neighbourhood parade, close to New Victoria Hospital, train station and significant residential redevelopments • Attractive 7.01% Net Initial Yield (£1,150,000 purchase price) 160 • Passing rent of £85,000 per annum A77 QUEENS PARK STATION CROSSHILL STATION QUEEN’S PARK LANGSIDE AVENUE QUEEN PARK RECREATION CATHKIN PARK GROUND A77 / GLASGOW CITY CENTRE FORMER VICTORIA HOSPITAL PROSPECTHILL ROAD BATTLEFIELD ROAD NEW VICTORIA HOSPITAL GLASGOW CLYDE MOUNT COLLEGE FLORIDA JUNCTION 1A STATION HAMPDEN PARK M74 SCOTTISH NATIONAL STADIUM LOCHLEVEN RD BATTLEFIELD AV Battlefield Road K I N Glasgow is Scotland’s largest city with a population of 600,000 HOLMLEA ROAD G ’ S and a wider catchment population in excess of 1.5 million. The P A R property is located in the Battlefield / Mount Florida area of K R O A Glasgow, approximately 2 miles south of the city centre. D AIKENHEAD ROAD The subjects sit equidistant between the New Victoria Hospital and Scotland’s national stadium, Hampden Park. The surrounding area is predominately residential and characterised by a large number of professional and duel income families. The area benefits from excellent transport links to the city centre with Mount Florida train station being a short distance CATHCART from the subjects and major road links easily accessible via STATION Cathcart Road. Battlefield Road has regular bus services providing the immediate catchment access to and from the city centre. The former Victoria Infirmary is located approximately 100 yards from the subjects. It closed in 2015 and is currently under redevelopment, where it is anticipated the development will comprise of 413 new luxury apartments. Situation The subjects are situated prominently within a mid-terraced retail parade on Battlefield Road, with on street parking available to the front. The property offers one of the few self-contained retail units on the parade, where adjoining retailers include Domino’s, Battlefield Pharmacy, Greggs and a host of local and national retailers. Directly opposite the subjects is the Glasgow Clyde College, which has been an established further education institution for over 60 years. 160 The New Victoria Hospital is also located a short distance to the north of the subjects. Description The subjects comprise a two-storey brick-built building set beneath a pitch and flat roof, clad in slate and felt respectively. The building was extensively refurbished in 2014 to specifically accommodate Sainsbury’s. Internally the subjects provide open sales at ground floor, with goods lift towards the rear, providing direct access to the first-floor storage and staff facilities. The subjects have been fitted out in the corporate style of Sainsbury’s. Accommodation We have measured the subjects in accordance with the RICS Code of Measuring Practice (Sixth Edition) and calculate the following approximate areas: Floor GIA Sq M GIA Sq Ft Ground 291 3,132 First 300 3,229 Total 591 6,362 *Approximately 162 sq m (1,744 sq ft) has been voided from first floor by the Tenant. This area is included in the above area calculation. Tenancy The subjects are let entirely to Sainsbury’s Supermarkets Limited for a Sainsbury’s Supermarkets Limited is the principal trading period of 15 years from 2nd October 2014, with expiry due 1st October company of J Sainsbury PLC, one of the largest retailers 2029 on a Full Repairing and Insuring term at a passing rent of £85,000 Company in the UK. The company was established in 1869 and is per annum, paid quarterly in advance. This reflects an overall rate of Britain’s longest standing major food retailing chain. £17.90 per sq ft, taking the first floor at half rate. The rent is to be It is estimated that Sainsbury’s serves over 20 million reviewed to Open Market on a 5-yearly basis. Information customers per week, with the company trading from over 1,100 stores across the UK. The Tenant will have the right to terminate the Lease on the 10th anniversary, subject to providing the Landlords no less than 12 months’ The company has had a turnover of in excess of notice. Alternatively, the Tenant shall also be entitled to extend the £23,000,000,000 for the past 3 years with a pre-tax profit Lease for a further 10 years from expiry, subject to providing the of over £4,000,000,000 reported in 2017. Landlord no less the 12 months’ notice. Tenure VAT Viewing and Further The property is held on heritable The property is not elected title (Scottish Equivalent of for VAT. English Freehold). Information Please contact the sole selling agents: EPC Legal Costs Each party will be responsible A copy of EPC will be made for their own legal costs available on request. incurred in connection with 160 this transaction. Gordon Nicolson 0141 548 8064 Battlefield Proposal gordon.nicolson@hsaretail.com We are instructed to seek offers in excess of £1,150,000 (One Million Ross Allardice One Hundred & Fifty Thousand Pounds Sterling) exclusive of VAT. 0141 548 8063 ross.allardice hsaretail.com Road A purchase at this level would reflect an attractive Net Initial Yield @ of 7.01% assuming purchaser’s costs of 5.12%. PROPERTY MISDESCRIPTIONS ACT 1991 [1] The information contained within these particulars has been checked and unless otherwise stated, is understood to be materially correct at the date of publication. After these details have been printed, circumstances may change out with our control. When we are advised of any change we will inform all enquirers at the earliest opportunity. [2] Date of Publication - September 2018. [3] Unless otherwise stated, all prices and rents are quoted exclusive of Value Added Tax. Prospective purchasers/lessees must satisfy themselves independently as to the incidence of VAT in respect of any transaction. REQUIREMENTS OF WRITING (SCOTLAND) ACT 1995 These details are not intended to form part of a legally binding contract and the correspondence of which it is part is expressly subject to completion of formal legal missives in accordance with Scots law..
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