Unsold Lots

Location

Lanark is a small market town with a population of 8,253, located in the Clyde Valley approximately 26 miles from Glasgow and 35 miles from Edinburgh. A busy market town with the world heritage site of New Lanark close by, the town is well served by public transport with both a railway station and bus station. The property is located on the High Street which has a wide selection of local and national retailers including:- Greggs, Farmfoods, Clinton Cards Victoria Wine, Ladbrokes, Specsavers, M&Co, Semi Chem and Baguette Express

Directions

From Glasgow travel south on the M74 and shortly after the Motherwell turn off take the A72 for Lanark. Follow the road through the Clyde Valley to Lanark and once in the town join the A73 which becomes High Street. The property is on the left between Specsavers and M&Co.

Description

Originally built as a bank and now B listed the subjects comprise a two storey detached sandstone building with pitched and slated roof. To the rear is a single storey extension of brick and stone construction also with pitched and slated roof. There is a large car parking area to the rear of the property accessed via North Vennel/Hope Street.

Part of the ground floor of the main building has been sub-let to A&J Printers and is in use as a printing business with direct access from the front vestibule. This section comprises two large rooms to the front with office, store and toilet to the rear. The remainder of the ground floor and first floor is in use by the Scottish Agricultural College and comprises, on the ground floor, a reception and waiting room in the main building and three offices, three store rooms, toilet and a further garage/store in the single storey extension. Upstairs there are six offices, toilets and a staff room.

Floor Areas

Ground Floor: Reception 28.5 sq.m (307 sq.ft), Waiting 17.1 sq.m (184 sq.ft), Sub-let offices 86.5 sq.m (931 sq.ft) - A&J Typesetters and stores 13.9 sq.m (149 sq.ft).
First Floor: Staff 29.2 sq.m (314 sq.ft) and 6 offices 94.3 sq.m (1,016 sq.ft).
Extension: 3 offices 42.5 sq.m (454 sq.ft), 3 stores 22.3 sq.m (241 sq.ft), Garage 5.2 sq.m (56 sq.ft).
Total 339.5 sq.m (3,654 sq.ft) approximately

Lease

The subjects are let to Scottish Agricultural College for a period of 20 years from 28 November 2005 until 27 November 2030. The passing rent is £20,000 per annum payable twice a year. Rent reviews are every 5 years the first being due 28 November 2010 and are upwards only. There is a tenant only option to break around each review date. SAC have advised that they intend to stay in the property beyond the break at November 2010.

A section of the ground floor has been sub-let to A&J Typesetters. We have not seen details of this sub-lease.

Rateable Value

A&J Typesetters RV £6,300
Scottish Agricultural College RV £14,700

Tenure

Owner

Joint Agent

Drivers Jonas Deloitte

Viewing

By arrangement through the Auctioneers, SVA Property Auctions Ltd, Tel: 0131 624 6640