Retail Property (high street) for sale

45/45A Neilsland Road, Hamilton, Lanarkshire, ML3

Offers in Region of 4,016 sq. ft. | £240,000

Property Description

Commercial information

  • 4,016 sq ft (373 sq m)

Key features

  • Passing rent of 20,000 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

Full description

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.

DESCRIPTION
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.
Site Plan - The boundaries of the site are shown shaded pink

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:
Unit No. Floor Sq. Ft. Sq.M.
45A Neilsland Road 816 75.81
45 Neilsland Road Ground Floor 1,200 111.48
Basement 2,000 185.80
Total Areas 4,016 373.09

45/45A NEILSLAND ROAD, HAMILTON

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 8,000 per annum
45 Neilsland Road 12,000 per annum
Total Rent 20,000 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 196.3m. The group's operating profit for the same period was 335m with net revenue
of 1.49bn. 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).

LEGAL COSTS
Each party will be responsible for their own legal costs incurred in connection with the transaction.


More information from this agent

Nearest stations

  • Hamilton West (0.9 mi)
  • Hamilton Central (1.0 mi)
  • Chatelherault (2.2 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Neil Munro Property Consultancy Ltd, Glasgow

21 West Nile Street, Glasgow, G1 2PS

0141 392 0835 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Hamilton West (0.9 mi)
  • Hamilton Central (1.0 mi)
  • Chatelherault (2.2 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Neil Munro Property Consultancy Ltd, Glasgow

21 West Nile Street, Glasgow, G1 2PS

0141 392 0835 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference NeilslandRoadHamilton. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Neil Munro Property Consultancy Ltd, Glasgow. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

Map data OpenStreetMap contributors.