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Lot

84

Motherwell Business Centre, Coursington Road, Motherwell, ML1 1PW

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Property Enquiries

Simon Bailey

simon.bailey@bidx1.com
+44 (0) 20 3929 8403

Viewings/Registration Enquiries

BidX1 Support Team

info@uk.bidx1.com
+44 (0) 20 7703 4401

Description

Map

Viewings


Property Summary
  • Heritable commercial investment
  • Established business location
  • Tenants include JP McDougall & Co Ltd (a subsidiary of Dulux Ltd) (3)
  • Asset management opportunities
  • Opportunities to enhance income
  • Excellent transport links
  • Current rent £75,202.50 per annum (part vacant)
  • Six week completion available
  • On the Instructions of a UK Fund
Tenure

Heritable (Scottish Equivalent of Freehold)

Location

Motherwell lies in North Lanarkshire about 12 miles south east of Glasgow and about 4 miles east of Hamilton and has a population of about 32,120. It is accessed via the A721 and A723, which provides access to junction 6 of the M74 motorway about 2 miles to the west. The B799 in turn provides access to the M8 motorway about 4 miles to the north east. The town benefits from three railway stations with Motherwell Station providing regional rail links as well direct links to Glasgow and London Euston.

Motherwell Business Centre lies in an established industrial area immediately to the east of the town centre and within a short walking distance of Motherwell station.

Description

Motherwell Business Centre is arranged as a mixture of office and industrial/warehouse accommodation totalling approximately 3,268.04 sq m (35,178 sq ft) on a site of approximately 0.60 hectares (1.49 acres). The units vary in size and specification and offer potential for a variety of different uses. There are a number of asset management opportunities available and this coupled with some refurbishment and improvement works could significantly enhance the income potential for the asset.

Tenancy

Please refer to legal documents

Planning

North Lanarkshire Council (01236 632500) www.northlanarkshire.gov.uk

VAT
Please refer to the legal documents.
Property Table

Accommodation & Tenancies

 

Unit

Size

Tenant

Tenancy

Commencement Date

Rent (PA)

Office 14

32.05 sq m (345 sq ft)

Linda Duddy

Lease expires 19/02/2020

20/02/2015

£3,000 

Office 21A

31.96 sq m (344 sq ft)

VACANT

 

 

 

Office 22 & 23A

105.91 sq m (1,140 sq ft)

VACANT

 

 

 

Office 22A

46.26 sq m (498 sq ft)

VACANT

 

 

 

Office 23

53.05 sq m (571 sq ft)

VACANT

 

 

 

Office 24

82.59 sq m (889 sq ft)

VACANT

 

 

 

Office 25

36.60 sq m (394 sq ft)

VACANT

 

 

 

Office 25A

36.04 sq m (388 sq ft)

VACANT

 

 

 

Office 26

37.07 sq m (399 sq ft)

North Lanarkshire Private Hire Ltd

Lease expires 17/11/2019

14/11/2017

£2,590

Office 26A, 27 & 27A

107.95 sq m (1,162 sq ft)

One Eye Dog Rehearsals Ltd

Lease expires 29/10/2025

30/10/2015

£6,520 (1)

Office V4

43.66 sq m (470 sq ft)

VACANT

 

 

 

Office V5 & V6

127.55 sq m (1,373 sq ft)

VACANT

 

 

 

Office V7

22.20 sq m (239 sq ft)

Protec Monitoring Ltd

Lease expires 19/11/2019

08/12/2017

£2,025

Store V1

33.63 sq m (362 sq ft)

VACANT

 

 

 

Store V2

38.82 sq m (418 sq ft)

VACANT

 

 

 

Store V3

43.66 sq m (470 sq ft)

VACANT

 

 

 

Unit 1A

51.47 sq m (554 sq ft)

VACANT

 

 

 

Unit 1B

56.02 sq m (603 sq ft)

Basic Food Bank (Lanarkshire)

Lease expires 28/02/2020

01/09/2014

£2,460

Unit 2A

55.64 sq m (599 sq ft)

David Tait t/a Powertune Scotland

Lease expires 31/05/2020

01/06/2013

£2,600

Unit 2B

52.76 sq m (568 sq ft)

VACANT

 

 

 

Unit 3 & 4

155.32 sq m (1,672 sq ft)

Isobel McGorry t/a Scot Blinds

Lease expires 31/12/2019

01/01/2011

£5,000

Unit 5

134.98 sq m (1,453 sq ft)

VACANT

 

 

 

Unit 6 & 7A

116.96 sq m (1,259 sq ft)

VACANT

 

 

 

Unit 7B

39.02 sq m (420 sq ft

VACANT

 

  

Unit 8A & 8B

150.13 sq m (1,616 sq ft)

JF Paint Supplies Ltd t/a Spray Store

Lease expires 31/08/2019

01/02/2009

£8,500

Unit 8C

88.07 sq m (948 sq ft)

VACANT

 

 

 

Unit 9

122.26 sq m (1,316 sq ft)

Stephen Mair

Lease expires 22/12/2024

23/12/2014

£4,662 (2)

Unit 10

67.54 sq m (727 sq ft)

G4 Claims Ltd

Lease expires 28/03/2020

29/03/2018

£5,000

Unit 11

103.12 sq m (1,110 sq ft)

Ferri Fit UK Ltd

Lease expires 31/07/2021

01/08/2018

£4,163

Unit 12

91.23 sq m (982 sq ft)

Ferri Fit UK Ltd

Lease expires 31/07/2021

01/08/2018

£3,682.50

Unit 15

40.69 sq m (438 sq ft)

VACANT

 

 

 

Unit 16

217.67 sq m (2,343 sq ft)

VACANT (3)

 

 

 

Unit 17

243.31 sq m (2,619 sq ft)

J P McDougall & Co Ltd (3)

Lease expires 22/08/2019

23/10/2009

£10,000

Unit 18

198.71 sq m (2,139 sq ft)

Robert McAvoy & Stewart McMillan t/a Automac

Lease expires 31/10/2019

01/11/2009

£8,500 (4)

Unit 19

213.02 sq m (2,293 sq ft)

Sun Tanz Company Ltd

Lease expires 31/10/2020

01/11/2010

£6,500

Unit 20 & 21

99.96 sq m (1,076 sq ft)

VACANT

 

 

 

Unit 28

91.13 sq m (981 sq ft)

VACANT (3)

 

 

 

TOTAL

3,268.04 sq m (35,178 sq ft)

 

 

 

£75,202.50

(1) There is a stepped rent in place as follows: 30/10/2019 to 29/10/2020 - £7,550pa; 30/10/2020 to 29/10/2021 - £5,250pa; from 30/10/2021 to 29/10/2022 - £6,250pa; 30/10/2022 to 29/10/2024 - £6,520pa; 30/10/2024 - £7,550pa
(2) There is a rent review on 23/12/2019
(3) Units 16, 17 & 28 are under offer to J P McDougall & Co Ltd on a new 10 year lease with a tenant’s break clause & rent review at the fifth anniversary. The rent for Unit 16 will be £10,500pa, Unit 17 £11,250pa & for Unit 28 £4,500pa. There will be a 6 month rent free period to be apportioned as 12 months at half rent. J P McDougall & Co Ltd is a wholly owned subsidiary of Dulux Ltd

EPC

Refer to the documents

*Terms and Conditions

Buyers are strongly advised to read these terms and conditions, and check the Special Conditions and any applicable Addendum, prior to bidding on a Lot. Additional costs, charges and encumbrances may apply for Buyers once they have made a successful bid in relation to a property.

  1. The reserve price is the minimum price at which the property can be sold at auction.
  2. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller may be prepared to sell on the date on which the guide price, or range of prices, is published. The sale price, whether prior to or at the auction, can be above or below the guide price depending upon market activity. BidX1 and the seller accept no responsibility for any losses, costs or damages incurred by a buyer as a result of relying on any guide price. The buyer must decide how much they should bid for any Lot. All guide prices are quoted "subject to contract". Guide prices given by BidX1 or the seller cannot be accepted by the buyer as being a professional valuation for any purpose in accordance with the requirements or guidance notes of relevant professional bodies or other authorities.
  3. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any Lot may exceed the previously quoted guide price (as the seller may fix the final reserve price just before bidding commences).
  4. The guide price for the Lot does not include the administration fee of £1,000 (inclusive of VAT) charged by BidX1. In addition, the guide price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.
  5. A minimum participation fee of £4,500 must be paid by all bidders who wish to partake in the auction. A participation fee of £4,500 is comprised of the £1,000 (inclusive of VAT) administration fee payable directly to BidX1 and £3,500 relating to your bidder security (partial deposit payment). A higher participation fee may be payable depending on the reserve price of the Lot. However, even in those circumstances, the administration fee shall remain at £1,000 (inclusive of VAT). The participation fee is fully refundable if you do not make the successful bid in relation to a Lot at auction. If you make a successful bid in relation to a Lot at auction your participation fee is non-refundable.
  6. Please note that Lots may be sold or withdrawn prior to auction.
  7. No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the seller in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the seller. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the seller. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller.