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Previous Auction Lot

From Auction held in May 2019
Lot 14

222 & 230 MAIN STREET AND 62/68 ROBERTS STREET, WISHAW, ML2 7JF

Two Unit Retail Investment with Substantial Development Potential. Current income £11,000 p.a.

Location

Wishaw is a town in North Lanarkshire, approximately 15 miles south east of Glasgow, with a population of 30,500 and a catchment area of 220,000. Neighbouring towns include Motherwell (3 miles) and Hamilton (4 miles). The town’s railway station, with direct rail links with Edinburgh and Glasgow, is a short walk to the south. Glasgow is approximately 25 mins by car and the M74 artery to the south is drivable in 10 mins.

The premises are located on the north side of Main Street (A721) the main thoroughfare through Wishaw. The surrounding area is a mix of residential and commercial property uses and nearby businesses include Lloyds Pharmacy, Homestyle, the Health and Social Care offices of North Lanarkshire Council and a Lidl Supermarket.

Description

The investment / development opportunity comprises two income producing shops with development potential in the vacant upper floors and substantial out buildings to the rear. Both shop units are tenanted by local traders on separate Internal Repairing and Insuring Leases which expire in February 2022. The total rent passing is £11,000 pa. Access to the upper floors and outbuildings is via the pend to the right hand side of the two shops. There are stairs to the rear of the premises, outwith the demise of the shop units, providing a separate access to the upper floors. The outbuildings are a mix of single and two storey brick built buildings with a courtyard in front. These buildings are unsecured, are in a poor state of repair but offer good development potential.

Accommodation

230 Main Street retail unit
222 Main Street retail unit

First Floor accommodation

Various outbuildings

Floor Area

230 Main Street 222 Main Street
Net Internal Area 446 sq ft

(41.5 sq m)

Net Internal Area 524 sq ft

(48.6 sq m)

First Floor 222 Outbuildings

First Floor Outbuildings

Net Internal Area 866 sq ft

(80 sq m)

Gross Internal Area 4,000 sq ft

(370 sq m)

Site Area

Total site area - 0.09 Ha (0.22 Acre) approx.

Planning

A planning permission (now lapsed) for 6 flats with access from Roberts Street (which runs parallel to Main Street, just to the north) was granted in 2009 - Ref 09/00169/AMD. Alternative uses may be possible and interested parties should make their own enquiries to North Lanarkshire Council Planning Department, Tel: 01236 632500

Rateable Value

222 Main Street, Wishaw RV £4,800 and 230 Main Street, Wishaw RV £5,200

EPC

Band G

Tenancy

230 Main Street: Trading as Scot Stitch. Held on an Internal Repairing and Insuring Lease (IRI) from 13/2/17 until 12/2/22 at a rent of £6,000p.a. 222 Main Street: Trading as Bobbleiscious. Held on an IRI lease from 6/2/17 until 5/2/22 at a rent of £5,000 p.a.

Tenure

Owner subject to the above tenancies, with the rest of the property offered with vacant possession.

Viewing

Strictly by arrangement with the auctioneers SVA Property Auctions Ltd 0131 624 6640

Joint Auctioneers

Whitelaw Baikie Figes, Chartered Surveyors, 81 St Vincent Street, Glasgow G2 5TF. Tel: 0141 221 6161 (Gavin Anderson)




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