Shawlands Salvation Army Retail Investment Extended to 2036 Rent Increases to £35,000p.a.x
Summary
- Substantial Property
- Prominent Frontage
- Ground & 1st Floor
- 6,439sq ft
- Held on F.R.I Lease To Salvation Army
- Expiring November 2036 (Extended)
- Passing £30,000p.a.x.
- Rent increases to £35,000p.a.x
- Price: o/o £365,000
Location
Glasgow is the largest city in Scotland, with a population of over 635,000. The city has an extensive catchment, with the Greater Glasgow conurbation extending to approximately 2.3 million people within a one-hour drive time, accounting for more than 40% of Scotland’s population.
Glasgow is the largest and most significant retail market in the UK outside of London’s West End. The city is consistently ranked second in the CACI retail rankings and provides over 5.3 million sq ft of retail space.
Shawlands is a highly sought after and densely populated affluent residential suburb, situated in the heart of Glasgow's Southside, within 7 miles of Glasgow Airport. The area serves as the primary retail, leisure, and cultural centre for the south of Glasgow, with an abundance of quality pubs, restaurants and coffee shops. Kilmarnock Road is the principal retail thoroughfare for Shawlands.
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Mainline Stations
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Crossmyloof6 mins
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Shawlands8 mins
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Pollokshaws East8 mins
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Pollokshields West11 mins
Underground Station
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Chesham6216 mins
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Amersham6256 mins
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Chalfont and Latimer6280 mins
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Chorleywood6312 mins
Further Information
Price Offers in excess of £365,000
Rates Payable Upon Enquiry
Description
The subject property is located on the northern aspect of Kilmarnock Road, in close proximity to Shawlands Arcade. Nearby occupiers include Greggs, Virgin Money, Co-op, B&M, Boots, Sainsbury’s Local, Iceland, Oro Italian Restaurant, and numerous independent bar and restaurant operators
Area
Ground: 286.07sqm (3,079sq ft)
1st: 312.15sqm (3,360sq ft)
Total: 598.22sqm (6,439sq ft)
Lease Summary
The property is held on a full repairing and insuring head lease on the following terms;
Tenant: Salvation Army Trading Company Ltd
Expiry: 7th November 2036 (Extended)
Passing Rent: £30,000p.a.x
From November 2026 Increasing to:
£32,000 p.a.x
2027: £33,000 p.a.x
2028: £34,000 p.a.x
2029: £35,000p.a.x
Rent Review: 2029 (Upwards Only OMV)
Tenant Break: 3rd & 6th Anniversaries
(The tenant will receive a 3 month rent free period if 2029 break is not exercised)
The tenant has a current service charge cap of £1,472 which increases by 3% per annum
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