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For SalePOA

Investment For Sale: TSB Bank, Springburn Way, Glasgow

Residential, Retail, General Retail, Retail - High Street
Property type: Residential, Retail, General Retail, Retail - High Street
Tenure: Investment Opportunity
Price: POA
Location: 247-255 Springburn Way, G21 1DX
Let to TSB Bank Plc
Expiry: 24/12/2024
Full Repairing Insuring Lease
£17,500per annum
Rent Review Due Dec 2019
Tenant Break: Dec 2019
VAT Free

Location
The subjects are located within the City of Glasgow in the Springburn area of the City. Springburn is a suburb of Glasgow with extensive housing and commercial developments located approx 2 miles North of Glasgow City Centre accessed via the A803 leading to and from the City Centre connecting Kilsyth, Bishopbriggs and Kirkintilloch.

The subjects are situated adjacent the Springburn Shopping Centre with neighbouring occupiers including Betfred, Greggs, B&M Home Bargains, Ladbrokes & Co-Op Food.

Subjects
The subjects occupy a dominating ground floor and basement position within an expansive retail and residential parade. The subjects are situated within a 3 storey tenement of sandstone construction. Internally the subjects have been decorated to suit the current occupiers corporate requirements.

The subjects benefit from a basement accessed via a single stair within the demise.

Area
The subjects extend to the following floor area:

Ground: 143.11sqm (1,540sq ft)
Bsm: 49.98sqm (538sq ft)
Total: 193.1sqm (2,078sq ft)

Investment Details:

Tenant: T.S.B. Bank PLC
Passing Rent: £17,500per annum
Next Review: 25/12/2019
Expiry: 24/12/2024

The current tenant has been in this location in excess of 20 years being one of the few banks in the area. T.S.B. Bank Plc, as of year end 2016 reported a pre-tax profit of £189,300,000 with a total net worth in excess of £1.87bn (Source:Experian Group)

Proposal
Our client is inviting offers for their freehold interest in the subjects

V.A.T.
This is a V.A.T. free investment.

Further Information
Available on request from the marketing agents.
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